PNB Scam Accused Mehul Choksi Arrested In Belgium After India's Extradition Request

Fugitive businessman Mehul Choksi, who has been evading Indian authorities over his alleged involvement in a major financial scam, was detained in Belgium on Sunday.

Choksi was reportedly residing in Antwerp with his wife, Preeti Choksi-a Belgian national-after obtaining an 'F Residency Card' in the country.

Photo Credit: AP/PTI

The fugitive diamond trader, wanted in connection with the notorious Punjab National Bank (PNB) fraud case, was granted residency in Belgium on November 15, 2023.

According to a report by the Associates Times, his wife is believed to have played a crucial role in securing this residency for him.

Choksi's fraudulent dealings, which involve a large-scale financial scam, led to him being officially declared a Fugitive Economic Offender (FEO) by the Indian government.

Both Choksi and his nephew, Nirav Modi, stand accused of defrauding PNB of over ₹14,000 crore-making it one of the largest banking scams in Indian history.

Sources said that after the Interpol Red Notice against him for arrest was "deleted", Indian agencies, the Enforcement Directorate (ED) and the CBI, moved for his extradition from Belgium.

ED alleged that Choksi, his firm Gitanjali Gems and others "committed the offence of cheating against Punjab National Bank in connivance with certain bank officials by fraudulently getting the LOUs (letters of undertaking) issued and got the FLCs (foreign letter of credit) enhanced without following prescribed procedure and caused a wrongful loss to the bank."

The ED has filed three charge sheets against Choksi till now. The CBI too has filed similar charge sheets against him.

(With PTI inputs)