The arrest signals a potential return to justice for a case that rocked India's financial system.
**Mehul Choksi, Notorious Indian Fugitive, Arrested in Belgium**
**Mehul Choksi, Notorious Indian Fugitive, Arrested in Belgium**
Fugitive jeweler sought by India, Mehul Choksi, faces charges related to a $1.8 billion bank fraud scandal.
In a significant development, Mehul Choksi, a prominent diamond dealer sought by Indian authorities for his alleged involvement in a multi-billion dollar bank fraud, has been arrested in Belgium. Choksi, 65, is wanted on charges of attempting to defraud Punjab National Bank, one of India's largest state-owned banks, by nearly $1.8 billion, a scandal that erupted in public consciousness back in 2018.
He fled India just before the scandal's details were made public, subsequently residing in various countries, including the Caribbean and Belgium. Choksi's arrest took place over the weekend in Antwerp, a major city known for its diamond trade, as confirmed by the Belgian public prosecutor's office. Details on how the arrest came about remain sparse, but it has been reported that India's Central Bureau of Investigation (CBI) filed for his extradition.
Choksi's lawyer, Vijay Aggarwal, announced intentions for an immediate bail application, citing health issues related to his cancer treatment. Aggarwal firmly states that Choksi poses no flight risk due to his medical condition, which he claims is serious. Despite the gravity of the charges against him, Choksi maintains his innocence.
The arrest also recalls the similar fate of his nephew, Nirav Modi, a renowned jeweler who was apprehended in London in 2019 over connections to the same fraud. Modi continues to challenge Indian extradition requests while detained in the UK.
Public sentiment in India has been heated regarding both cases, as they underscore existing concerns about the accountability of taxpayer-funded banks intertwined with the opulent lifestyles of elite individuals. The ongoing legal battles surrounding Choksi and Modi have kept the Indian public captivated, eagerly awaiting justice in what has been termed one of the country’s most notorious financial scams.
He fled India just before the scandal's details were made public, subsequently residing in various countries, including the Caribbean and Belgium. Choksi's arrest took place over the weekend in Antwerp, a major city known for its diamond trade, as confirmed by the Belgian public prosecutor's office. Details on how the arrest came about remain sparse, but it has been reported that India's Central Bureau of Investigation (CBI) filed for his extradition.
Choksi's lawyer, Vijay Aggarwal, announced intentions for an immediate bail application, citing health issues related to his cancer treatment. Aggarwal firmly states that Choksi poses no flight risk due to his medical condition, which he claims is serious. Despite the gravity of the charges against him, Choksi maintains his innocence.
The arrest also recalls the similar fate of his nephew, Nirav Modi, a renowned jeweler who was apprehended in London in 2019 over connections to the same fraud. Modi continues to challenge Indian extradition requests while detained in the UK.
Public sentiment in India has been heated regarding both cases, as they underscore existing concerns about the accountability of taxpayer-funded banks intertwined with the opulent lifestyles of elite individuals. The ongoing legal battles surrounding Choksi and Modi have kept the Indian public captivated, eagerly awaiting justice in what has been termed one of the country’s most notorious financial scams.
