Indian billionaire jeweler arrested for alleged bank fraud

The Indian businessman Mehul Choksi was arrested in Belgium following the request for India for his extradition.

Choksi, who left India in 2018, was arrested on Saturday, said his lawyer Vijay Aggarwal on Monday at the BBC.

The diamond merchant is sought by India for accusations of involvement in one case of fraying one of the largest banks in the country of almost $ 1.8 billion (£ 1.3 billion).

Choksi did not publicly comment on the case, but his lawyer said they would appeal against his detention and also opposed his extradition to India.

“These are the obvious reasons [on which we will argue the case]Which is not a flight risk and secondly, it is extremely sick. He is undergoing cancer treatment, “said Agarwal.

He added that “they would have contested the extradition for reasons that there is not enough evidence against him and the request for extradition is politically motivated and the process in India may not be right”.

The BBC contacted the Agency of the Ministry of Foreign Affairs and Financial Crimes of India – The Directorate of Application (De) – For a comment.

According to a Times of India report, Choksi was arrested on the basis of two not possible mandates issued by an Indian court in 2018 and 2021, even if it is not clear why the action has come now.

Choksi and his nephew, NiVrandi, are sought by the Indian authorities in relation to a case of 1.8 billion dollars fraud at the Punjab National Bank (PNB).

Mr. Modes, who also lives abroad since 2018, is housed in a prison in London and waiting for extradition to India.

The diamond merchant is sought by India for accusations of involvement in one case of fraying one of the largest banks in the country of almost $ 1.8 billion (£ 1.3 billion).

Choksi did not publicly comment on the case, but his lawyer said they would appeal against his detention and also opposed his extradition to India.

Both were high -profile diamond traders. The jewels of Mr. Modes have been worn by several Hollywood celebrities such as Naomi Watts and Kate Winslet. One of the greatest Bollywood stars, Priyanka Chopra, was the ambassador of his company’s brand.

In the meantime, Choksi was the owner of Gitanjali Gems, an Indian jewelry retailer who once had about 4,000 shops throughout India.

The E and accused Mr. Choksi and ways of placing with some employees of the Brady House branch of PNB in ​​Mumbai City to obtain fraudulent progress for payments to overseas suppliers of jewelry.

These funds were therefore presumably deviated and recycled.

Choksi and Mr. Ways have denied the accusations against them.

After leaving India, according to reports, Choksi traveled to the United States and subsequently to Antigua, where he has citizenship.

In 2021, according to what was reported, he was arrested in Dominica and deported to Antigua.

Hariprasad Sv, an entrepreneur based in Bengaluru who in 2016 alerted the authorities on the alleged NB scam, said that Choksi’s arrest was “great news”.

“In addition to bringing it back, the most important thing is to recover all those billions of dollars that has plundered from India,” he told the Ani news agency.