HARARE, Belgium – Indian jeweller and businessman Mehul Choksi was arrested in Belgium on Saturday following an extradition request from India, his lawyer said. Choksi, who left India in 2018, faces charges of defrauding one of the country’s largest banks of nearly $1.8 billion, officials allege.
According to lawyer Vijay Aggarwal, Choksi was taken into custody in Belgium and is scheduled to face extradition proceedings. Aggarwal told the BBC on Monday that his client had not yet commented publicly on the case but that his legal team planned to appeal against the detention and contest the extradition on several grounds. He said Choksi is not a flight risk and is currently undergoing cancer treatment. His legal team intends to argue that there is insufficient evidence to support the allegations and that the extradition request is politically motivated, noting that a trial in India may not meet fair trial standards.
Choksi, a high-profile diamond trader and former owner of Gitanjali Gems, is one of two businessmen sought by Indian authorities in connection with a fraud case at Punjab National Bank. His nephew, Nirav Modi, also faces similar allegations and is currently detained in a London prison awaiting extradition to India. Both men have denied any wrongdoing in connection with the allegations that they colluded with employees at a Mumbai branch of Punjab National Bank to obtain fraudulent advances for payments to overseas jewellery suppliers.
The Enforcement Directorate has accused Choksi and Modi of diverting and laundering funds, a case that has drawn considerable attention in both India and abroad. Earlier reports indicated that Choksi was the subject of non-bailable warrants issued by an Indian court in 2018 and 2021, although the timing of the recent arrest in Belgium remains unclear. After leaving India, Choksi reportedly traveled to the United States and later to Antigua, where he obtained citizenship. In 2021, he was arrested in Dominica and deported back to Antigua.
Bengaluru-based entrepreneur Hariprasad SV, who alerted authorities about the alleged scam at Punjab National Bank in 2016, welcomed the news of Choksi’s arrest and stressed the importance of recovering the billions allegedly looted from India.
Indian authorities have not yet commented publicly on Choksi’s arrest but have confirmed that the case is being pursued as part of a broader investigation into alleged bank fraud involving high-profile diamond traders. The case continues to develop as extradition proceedings move forward in Belgium.
