Nirav's staff used code words to discuss PNB transactions
The employees of billionaire jeweller Nirav Modi and his uncle Mehul Choksi used code language to discuss business transactions with the PNB, reports said. Nirav was referred to as 'friend' and Choksi as 'uncle'. Further, employees reportedly used 'property' for LoU and 'commission on property' for bribe commission. Nirav and Choksi are accused of defrauding PNB of $1.77 billion.