Mumbai: Fugitive diamond trader Mehul Choksi has been arrested in Belgium, marking a significant breakthrough in the long-running investigation into the Punjab National Bank (PNB) loan fraud case. The arrest was made at the request of Indian investigative agencies, including the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).
Union Minister of State for Finance, Pankaj Chaudhary, expressed his government’s satisfaction with the development, highlighting that it aligns with Prime Minister Narendra Modi’s earlier commitment to hold accountable those who defraud the poor. Chaudhary reiterated that PM Modi’s promise to ensure that those who escape abroad with ill-gotten wealth would eventually face justice is being fulfilled.
In 2021, while addressing a conference on anti-corruption efforts, Prime Minister Modi made it clear that individuals who cheat or steal from the poor, no matter how powerful or where they are in the world, would not escape accountability. Choksi’s arrest is seen as a crucial step toward fulfilling this promise.
The fugitive businessman, who fled India in early 2018 amidst allegations of defrauding PNB of approximately Rs 13,000 crore, is currently being held in a Belgian jail. Choksi’s hearing for a bail plea is set for next week, but in the interim, he will remain in custody. This period is seen as critical, as it gives Indian authorities the time needed to strengthen their case for his extradition.
Choksi, along with his nephew Nirav Modi, is accused of orchestrating one of the largest financial scandals in India’s history. His extradition will be an important step in bringing him to trial and potentially recovering the defrauded funds.
