NEW DELHI, April 14 – Indian fugitive diamantaire Mehul Choksi, wanted in connection with one of the country’s biggest bank fraud cases, has been arrested in Belgium after attempting to flee to Switzerland, Indian officials said.
Choksi, 65, is accused of orchestrating a ₹12,636 crore ($1.5 billion) fraud at state-run Punjab National Bank alongside his nephew Nirav Modi, wife Ami Modi, and brother Neeshal Modi. The Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) have been pursuing him since 2018, when he fled India shortly before the scam was uncovered.
After securing citizenship in Antigua and Barbuda under its investment programme, Choksi was arrested in 2021 in the Dominican Republic for illegal entry. However, extradition attempts were thwarted after a Dominican court allowed his return to Antigua for medical treatment, following intervention by the UK’s Privy Council. Charges in the Dominican Republic were later dropped.
Indian agencies continued to track Choksi and located him in Belgium last year. Authorities in Belgium were alerted, and Choksi was arrested on Saturday while allegedly trying to escape to Switzerland, officials said. According to sources, Choksi used fabricated documents to obtain a Belgian residency card and failed to disclose that he held citizenship in India and Antigua. His wife, Preeti Choksi, is a Belgian national, officials added.
Choksi, who claims he is undergoing treatment for blood cancer, had previously told a Mumbai court that he could not return to India on health grounds and offered to appear via video-conference. Indian agencies rejected the proposal and pressed ahead with extradition efforts, culminating in his arrest. His legal team is expected to seek relief on medical grounds, even as Indian authorities continue efforts to bring him back for trial.
