Belgian police have arrested fugitive diamond service provider Mehul Choksi, one of many prime accused within the $2-billion Punjab Nationwide Financial institution (PNB) fraud, The Financial Occasions reported citing sources.
Choksi was taken into custody on Saturday on the request of India’s Central Bureau of Investigation (CBI) and stays in jail, sources stated. His arrest marks a major improvement within the years-long effort to carry him to justice after he fled India in 2018.
Mehul Choksi was arrested in Belgium below two open-ended arrest warrants issued by a Mumbai courtroom — one dated Could 23, 2018, and one other from June 15, 2021. The warrants had been issued in reference to the Punjab Nationwide Financial institution (PNB) rip-off, wherein Choksi and his nephew, Nirav Modi, are accused of defrauding the financial institution of ₹13,850 crore.
Choksi, who’s at present in custody, is anticipated to hunt bail, citing sick well being and different causes. He’s needed by each the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for his position within the large fraud. In the meantime, his nephew Nirav Modi, additionally a key co-accused, is awaiting extradition from London.
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