From Antigua to Antwerp: How India Tracked Down Mehul Choksi in Belgium After the PNB Scam

Mehul Choksi , the infamous fugitive diamantaire, has been arrested in Belgium after evading authorities for years. Accused of masterminding the massive Punjab National Bank (PNB) fraud, Choksi's arrest marks a significant step in India's ongoing efforts to bring him to justice. Here's a closer look at the events that led to his capture.

Timeline of Choksi's Flight from Justice:

2018: The Great Escape Mehul Choksi fled India in 2018 amidst the storm of accusations surrounding the PNB fraud case. He initially sought refuge in the United States before settling in Antigua, where he had acquired citizenship the previous year.

2019: Nirav Modi's Arrest and Choksi's Evasion In 2019, Choksi’s nephew, Nirav Modi, was arrested in London in connection with the fraud. While Modi continues to face legal battles in the UK, Choksi managed to stay out of reach, evading extradition attempts for years.

2023: Interpol's Red Notice Withdrawal In March 2023, Interpol unexpectedly revoked the red notice against Choksi, sparking fears that he might escape further scrutiny. Despite this, efforts to bring him back to India continued unabated.

2024: Relocation to Belgium Reports suggest that Choksi and his wife, Preeti, moved from Antigua to Belgium in 2024. Choksi’s legal team informed a Mumbai court of his ongoing treatment for blood cancer in Antwerp.

Belgium: The Final Stop for Choksi?

• F-Residency and Belgian Ties Just weeks before his arrest, Choksi and Preeti secured F-Residency cards in Belgium. Preeti, a Belgian citizen, has close family ties in the country, which could have facilitated their move.

• The Arrest Local Belgian authorities arrested Choksi in Antwerp after confirming his presence in the country. Preparations for his extradition to India are already underway, but Choksi is gearing up for a legal battle to delay his return.

The Legal Battle Ahead

Choksi’s defence team plans to contest his extradition, citing his health issues as a primary reason for challenging the request. However, the Indian government remains firm on its pursuit of justice for the massive fraud that resulted in a loss of over ₹6,000 crore to PNB.

The PNB Fraud: A Quick Overview

Choksi's alleged involvement in the PNB fraud dates back to 2014-2017 when he, along with his associates and bank officials, issued fraudulent Letters of Undertaking and Letters of Credit from PNB. His actions led to a colossal financial loss to the bank. Additionally, he defaulted on loans from ICICI Bank.

Massive Asset Seizures

In response to the fraud, India's Enforcement Directorate (ED) conducted extensive searches across the country, seizing assets worth ₹2,565.90 crore. These included properties, vehicles, shares, and valuables linked to Choksi’s business empire, the Gitanjali Group.

Mehul Choksi's arrest in Belgium is a significant milestone in a long-running legal saga. As his extradition battle unfolds, India is determined to hold him accountable for the financial damage he caused to both public and private sectors. The coming months will reveal whether justice will finally be served.