Fugitive Indian jeweler Mehul Choksi has been arrested in Belgium, as confirmed by his lawyer on Monday. Choksi is accused of being involved in one of India's largest bank fraud cases, which has drawn significant attention due to its scale and the stature of those involved.
Choksi and his nephew, Nirav Modi, are implicated in a $1.8 billion fraud scheme involving Punjab National Bank, the second-largest public lender in India. Both individuals fled India in 2018 amidst the unfolding scandal, leading to an extensive international manhunt.
The arrest occurred on Saturday in the city of Antwerp, a significant global hub for diamond trading. Choksi's lawyer, Vijay Aggarwal, reported that they plan to file an appeal for Choksi's release, citing several key reasons for their argument.
Aggarwal emphasized that Choksi is "not a flight risk" and is suffering from serious health issues, including cancer, for which he is currently undergoing treatment. Furthermore, he indicated that they would present arguments suggesting that the case against Choksi is politically motivated and highlighted the inhumane conditions prevalent in Indian prisons.
Choksi and Modi have consistently denied the accusations against them. Punjab National Bank contends that both men, along with other associates, perpetrated fraud by utilizing falsified financial documents to obtain loans for purchasing and importing jewels.
In a related case, Nirav Modi has faced his legal battles since being arrested in Britain in 2019, where he has remained in custody ever since. He is accused of creating an extensive jewelry empire that spanned multiple countries, including India, the United States, and Hong Kong.
The unfolding events surrounding Choksi's arrest raise critical questions about international law enforcement cooperation and the ongoing complexities of extradition processes. As the case progresses, the implications for both Choksi and the broader context of financial regulation and accountability in India may continue to garner significant media attention and public discourse.
