Belgium (National Times): Fugitive businessman Mehul Choksi has been arrested in Belgium while allegedly planning an escape to Switzerland, marking a major breakthrough for Indian investigative agencies after a seven-year international manhunt.
Choksi, wanted in connection with the Rs 12,636 crore Punjab National Bank (PNB) fraud, had fled India in 2018 just before the scam surfaced. The CBI and Enforcement Directorate had been tracking his movements across multiple countries ever since.
A key figure in the PNB case, Choksi, along with his nephew Nirav Modi, his wife Ami Modi, and his brother Neeshal Modi, is accused of defrauding the state-run bank through fraudulent Letters of Undertaking.
After acquiring Antiguan citizenship, Choksi was arrested in 2021 in the Dominican Republic for illegal entry. However, his extradition was halted after he secured relief from the British Queen’s Privy Council, and he returned to Antigua. Charges against him in the Dominican Republic were later dropped.
Indian agencies continued to pursue him. In 2023, intelligence revealed his presence in Belgium, where Choksi was allegedly attempting to obtain a residency card using forged documents and by concealing his dual citizenship. His wife, Preeti Choksi, is a Belgian national.
Choksi was detained on April 12 by Belgian authorities, who confirmed he was planning to flee to Switzerland. The CBI had already submitted detailed documentation about his involvement in the fraud case to facilitate cooperation.
Earlier this year, Choksi’s lawyer told a Mumbai court he was undergoing blood cancer treatment in Belgium and was unable to return to India, offering instead to join proceedings via video conferencing. However, the Indian agencies rejected the proposal. Following his arrest, the Indian authorities are now actively working to secure his extradition, while Choksi’s legal team has stated it will oppose the move and apply for bail.
