The arrest of diamond dealer Mehul Choksi in Belgium has raised eyebrows as he faces charges related to a $1.8 billion scam involving Punjab National Bank. His lawyer argues for his release due to health issues, while extradition proceedings loom.
Indian Fugitive Mehul Choksi Arrested in Belgium Amid Fraud Scandal
Indian Fugitive Mehul Choksi Arrested in Belgium Amid Fraud Scandal
Mehul Choksi, wanted by Indian authorities over a massive bank fraud, was apprehended in Antwerp, igniting discussions about financial accountability and justice.
Mehul Choksi, a high-profile diamond dealer linked to one of India’s most notorious financial scandals, has been apprehended in Belgium over the weekend. The arrest marks a significant development in a case that has triggered widespread outrage and scrutiny of India’s banking system.
Choksi, 65, is wanted by Indian authorities for allegedly attempting to defraud the Punjab National Bank, a state-run institution, of nearly $1.8 billion. The case shocked the nation when it came to light in 2018, coinciding with Choksi’s departure from India, just as the accusations were being made public.
The Antwerp police confirmed the arrest, responding to a request from the Belgian public prosecutor’s office, though further details surrounding the apprehension have yet to be disclosed. Choksi's lawyer, Vijay Aggarwal, announced plans to contest the extradition, citing his client's deteriorating health, including ongoing cancer treatment. “He is not a flight risk,” Agrawal emphasized during a press briefing held in New Delhi.
Choksi’s name has often been mentioned alongside that of his nephew, Nirav Modi, another prominent jeweler entangled in the same fraud case. Modi was arrested in London in 2019, similarly facing extradition efforts from Indian authorities. Both cases have become emblematic of India’s struggle with corruption and the misuse of taxpayer-owned banks to support extravagant lifestyles.
As discussions around financial justice continue, the developments in Choksi's case have captured public attention in India, where calls for accountability are on the rise. With the fugitive now in custody, the next steps concerning his potential extradition will be closely monitored by both Indian and international observers.
This story is brought to you by a collaboration of our reporters in New Delhi and Antwerp, bringing insights on a case that transcends borders and fuels public discourse on ethics within banking systems.
