Fugitive Diamond Merchant Mehul Choksi Arrested In Belgium: Report

Mehul Choksi, wanted in the Punjab National Bank loan fraud case, has been arrested in Belgium at the request of the CBI, reported The Economic Times.

Fugitive Indian diamond trader Mehul Choksi has been arrested in Belgium.

Source : PTI

Fugitive Indian trader Mehul Choksi has been arrested by the police in Belgium in connection with the Punjab National Bank loan fraud case, reported The Economic Times. 

The 65-year-old diamond trader was arrested on Saturday at the request of the Central Bureau of Investigation and is still in jail, as per the report. 

The cops referred to two open-ended arrest warrants issued against Choksi by a Mumbai court while placing him under arrest. The arrest warrants are dated May 23, 2018, and June 15, 2021. 

However, Choksi is expected to seek bail and an immediate release citing health and other reasons. 

The fugitive is wanted for his alleged involvement in Rs 13,500-crore loan fraud in Punjab National Bank. He has been living in Antwerp with his wife, Preeti Choksi. Choksi is a citizen of Antigua and Barbuda and has left the island nation for medical treatment. 

His nephew, Nirav Modi is a co-accused in the same case and is awaiting extradition from London. 

Both Choksi and Modi fled India in January 2018, a week before the scam in Punjab National Bank surfaced. 

Whistleblower Hails Arrest 

Hariprasad SV, the whistleblower in the Punjab National Bank scam case has welcomed Choksi's arrest calling it "great news." 

"Wow, Mehul Choksi getting arrested in Belgium is great news not only for India but also for all those who got cheated by him," he told ANI. "The government must bring him back to India as soon as possible, and justice must be delivered," he said.

He also stressed getting back "all those billions of dollars he looted from India and stashed anywhere in the world." He hoped that the Indian government "will succeed this time." 

"Great news," Hariprasad exclaimed. 

On July 26, 2106, Hariprasad blew the cover in a letter to the Prime Minister's Office raising concerns about a potential large-scale scam. 

In his letter, the Bengaluru-based entrepreneur pointed out that the balance sheets contained clear indicators that something was amiss.