Fugitive Jeweller Mehul Choksi Arrested in Belgium: A New Twist in India’s Biggest Bank Fraud

Mehul Choksi, a fugitive jeweller accused in India's massive bank fraud case, has been arrested in Belgium. His lawyer plans to appeal for his release, citing ongoing cancer treatment. The Indian government requested extradition, while Choksi maintains he committed no offense in Belgium.

Fugitive jeweller Mehul Choksi has been apprehended in Belgium, according to his lawyer who announced plans to appeal for his release. The case returns to the spotlight seven years after Choksi's alleged involvement in one of India's largest bank frauds was exposed.

Back in 2018, Punjab National Bank, India's second-largest state-run lender, revealed a staggering $1.8 billion fraud at a single Mumbai branch. Authorities filed charges against several individuals, including jeweller Choksi and his nephew Nirav Modi, accusing them of defrauding the bank. Both tycoons have refuted the allegations.

Choksi's legal team argues his ongoing cancer treatment and appeal to prove he is not a flight risk. Nirav Modi, meanwhile, has been in British custody since 2019 following his arrest there. The extradition challenges continue as investigators work to resolve this high-profile financial scandal.

(With inputs from agencies.)