Mehul Coksi - the fugitive Indian businessman has been arrested in Belgium after India's extradition request for his role in the Punjab National Bank (PNB) fraud case of more than ₹13,0000 million ($15,11,621.76).
Mehul Choksi was born in May 1959 in India's Mumbai. His father owned a small jewellery business that later became the Gitanjali Groups - one of India's largest jewellery brands.
Mehul Choksi expanded the brand and ended up opening as many as 4,000 retail stores across India. The brand started witnessing a booming international presence under Mehul's leadership.
The year was 2018. India witnessed a massive shock when reports came that one of India's oldest lenders, PNB, had fallen into a fraud, as big as ₹13,500 crore (Over $15,11,621.76).
Investigations revealed that Mehul Choksi, along with his nephew Nirav Modi, had siphoned off the money using fraudulently obtained Letters of Undertaking (LoUs) without proper collateral or security.
Fearing a crackdown, Choksi ran from India in early 2018. It was a few weeks before the scam was unveiled. He landed in Antigua and Barbuda, secured citizenship using his best skill - fraud.
India's investigating agencies - CBI and ED - filed multiple cases against the fugitive businessman. Choksi's Indian passport was revoked.
In 2021, Choksi mysteriously vanished from Antigua and turned up in Dominica. He accused Indian agents of kidnapping him. The claim was as eyebrow-raising as it sounds.
In one of the biggest breakthroughs of India, Choksi was arrested on Saturday (April 12) in Belgium.
Indian legal teams are preparing to present strong evidence to Belgian courts. But Choksi has already started contesting his extradition, citing his declining health and human rights.