Fugitive Indian jeweler Mehul Choksi, accused in one of India’s largest bank frauds, has been apprehended in Belgium, as confirmed by his attorney on Monday. Choksi, along with his nephew Nirav Modi, a prominent diamond tycoon, is alleged to have been involved in a $1.8 billion scam linked to Punjab National Bank, the country’s second-largest public financial institution. Both individuals absconded from India in 2018.
Reports suggest that Choksi’s arrest in the port city of Antwerp came in response to an extradition petition filed by Indian authorities. Attorney Vijay Aggarwal stated that Choksi’s legal team intends to challenge the arrest and seek his release. Choksi and Modi have consistently refuted the accusations leveled against them.
Punjab National Bank accuses Choksi, Modi, and others of perpetrating fraud through falsified financial documents to secure loans for purchasing and importing gemstones. Aggarwal indicated that the primary argument for the appeal would focus on Choksi’s health condition, as he is battling cancer and is not a flight risk. Additionally, they plan to assert that Choksi’s case is politically motivated and highlight the harsh living conditions in Indian jails.
Nirav Modi, known for his jewelry businesses spanning across various countries including India, New York, and Hong Kong, was detained in the UK in 2019 and has since been in custody.
