Special Correspondent
New Delhi : Fugitive diamond merchant Mehul Choksi, wanted in connection with the Rs 13,500 crore Punjab National Bank (PNB) fraud, has been arrested by Belgian authorities. The arrest was made following a request from Indian security agencies, particularly based on a request from the Central Bureau of Investigation (CBI).
Choksi was residing in Antwerp, Belgium with his wife Preeti Choksi, who holds Belgian citizenship. Reports suggest that Choksi, who had an “F Residency Card” in Belgium, had travelled there from Antigua for medical treatment.
Belgian police referred to two arrest warrants issued by the Mumbai court—dated May 23, 2018 and June 15, 2021—while detaining him. It is also reported that Choksi is suffering from cancer, and he may file an appeal in the local court to avoid extradition on health grounds.
Both Mehul Choksi and his nephew Nirav Modi are accused of orchestrating one of India’s biggest banking scams, allegedly by colluding with PNB officials to fraudulently secure Letters of Undertaking (LOUs) and foreign letters of credit for their companies.
Choksi has already been declared a fugitive economic offender, and Indian enforcement agencies have initiated the process to seize his assets as part of the legal proceedings. His Indian passport has also been revoked by the government. With this arrest, his extradition to India could be expedited, bringing him one step closer to facing justice.
