New Delhi: Mehul Choksi, the fugitive Indian businessman and uncle of Nirav Modi, was arrested in Belgium on April 12 following a request from Indian authorities, his lawyer confirmed on April 14. The arrest marks a key development in the long-standing Punjab National Bank fraud case, reported the India West News Desk.
Choksi, who fled India in 2018, is accused of defrauding Punjab National Bank of nearly $1.8 billion, making it one of the biggest financial scams in Indian history. The former head of Gitanjali Gems, he once ran a jewelry empire with nearly 4,000 stores across the country.
His legal counsel has stated that Choksi will contest the arrest and any move to extradite him, arguing that the case is politically motivated and that he may not receive a fair trial in India. The lawyer also cited Choksi’s ongoing cancer treatment as a reason to resist extradition.
“This is not just about bringing him back. The priority must be recovering the billions he siphoned,” said Bengaluru entrepreneur Hariprasad SV, who was among the first to flag the irregularities in 2016.
Choksi and Nirav Modi are accused of jointly orchestrating the fraud. Nirav Modi, who also fled India in 2018, is currently imprisoned in the UK and is awaiting extradition to India. Known for his luxury diamond brand, Nirav Modi’s designs were once endorsed by global celebrities, including Bollywood actress Priyanka Chopra.
The arrest of Choksi is being closely watched, as it could pave the way for further accountability in one of India’s most notorious white-collar crime cases.
