Mehul Choksi detained in Belgium
In a dramatic turn of events, fugitive diamantaire Mehul Choksi — the man at the heart of India’s infamous ₹14,000 crore Punjab National Bank (PNB) fraud — has been arrested in Belgium, where he had quietly taken refuge.
Mehul Choksi detained in Belgium
Choksi, who vanished from India in early 2018 as the PNB loan fraud scandal erupted, was reportedly living in Antwerp with his wife, Preeti Choksi, a Belgian citizen. Sources say the 64-year-old businessman secured an ‘F Residency Card’ in Belgium on November 15, 2023 — a move that allowed him to freely travel across European Union nations and complicated India’s efforts to bring him back to face justice.
Mehul Choksi detained in Belgium
However, the long arm of the law finally caught up with Choksi. Acting on India’s extradition request, Belgian authorities arrested him on Sunday. The Central Bureau of Investigation (CBI) had formally sought his extradition in March 2025, armed with two non-bailable warrants issued by Mumbai courts dating back to 2018 and 2021.
Mehul Choksi detained in Belgium
Choksi’s legal team isn’t backing down just yet. His lawyers are preparing to file for bail and are expected to fiercely contest the extradition proceedings, banking on the protective shield of his newly acquired Belgian residency.
Mehul Choksi detained in Belgium
The PNB scam, which shook the foundations of India’s banking sector, saw Choksi and his nephew Nirav Modi accused of orchestrating a massive fraud involving fraudulent Letters of Undertaking (LOUs) and Foreign Letters of Credit (FLCs), allegedly in connivance with corrupt bank officials. The scam caused a colossal loss to the state-run PNB and earned Choksi the label of Fugitive Economic Offender back home.
The Enforcement Directorate (ED) has so far filed three charge sheets against Choksi, his wife, and his company, Gitanjali Gems, while the CBI has also built a solid case, accusing him of criminal conspiracy, cheating, and money laundering.
Mehul Choksi detained in Belgium
While the legal tug-of-war is just beginning in Belgium, Indian agencies are hoping this arrest finally paves the way for Choksi’s return to Indian soil — and the long-delayed trial in one of India’s most notorious financial scams.
