Seven Potential ‘Nirav Modis’ Trapped: Action Taken Against Fugitive Offenders, Says Government

The government has initiated action against seven fugitives involved in economic offences involving Rs 27,969 crore in a competent court, Economic Times has reported.

"Action has been initiated against seven persons under Fugitive Economic Offenders Act, 2018, in a competent court. The amount involved is Rs 27,968.83 crore," ET quoted Shiv Pratap Shukla, Minister of State for Finance.

In reply to another question related to chit fund and Ponzi schemes scam in West Bengal, the minister said the government had taken cognisance of various such schemes. The CBI had registered 42 cases on chit fund and Ponzi schemes scams in West Bengal during the past four years.

The Enforcement Directorate has informed that attachments for the value of Rs 274.62 crore have been issued and prosecution complaints filed against ten persons in the case of Saradha Group of Companies, said the minister.

A fugitive economic offender is a person against whom warrant for arrest is issued for his involvement in select economic offences involving an amount of at least Rs 100 crore or more and has left India to avoid criminal prosecution.