Fugitive diamond trader Mehul Choksi, wanted in connection with the Punjab National Bank (PNB) loan fraud case, has been arrested by the police in Belgium, a report claimed.
The 65-year-old was arrested on Saturday at the request of the Central Bureau of Investigation (CBI) and is currently in jail, Economic Times reported.
The police referred to two open-ended arrest warrants issued against Choksi by a Mumbai court while placing him under arrest. These were dated May 23, 2018, and June 15, 2021, the report said.
Choksi, however, is expected to seek bail and an immediate release, citing ill health and other reasons.
He is wanted by the CBI and the Enforcement Directorate (ED) for allegedly defrauding the PNB of Rs 13,850 crore along with his nephew, Nirav Modi, who is awaiting extradition from London.
They allegedly used a letter of undertaking (LoUs) and foreign letters of credit (FLCs) by bribing officials of the bank’s Brady House branch in Mumbai.
They fled India in January 2018, weeks before the scam in the PNB – the country’s second largest bank – surfaced.
Last month, the Belgian foreign ministry confirmed to The Hindkesharithat Mehul Choksi was in the European country.
In a communication, they said they were aware of his presence and “attached great importance and attention to it”.
The ministry, however, said they do not comment on individual cases. Even so, “the FPS Foreign Affairs continues to closely follow the developments in this important case”.
According to reports, Choksi has been in Antwerp with his wife, Preeti Choksi, a citizen of Belgium, after obtaining a ‘residency card’ in the country.
A citizen of Antigua and Barbuda, he reportedly left the island nation for medical treatment. In 2021, he had gone missing from Antigua, sparking speculation he had been kidnapped by the Indian official – an absurd claim proven false after he was found on another Caribbean island nation – Dominica.