NEW DELHI: Fugitive jeweller Mehul Choksi has been arrested in Belgium, a source with India’s enforcement directorate told Reuters, seven years after details of his involvement in one of India’s biggest bank frauds became public.
The Indian government had sent a request for Choksi’s extradition prior to his arrest, but he is likely to challenge it on medical grounds, the source added.
Punjab National Bank (PNB), India’s second largest state-run lender by assets, had announced in 2018 that it had discovered alleged fraud worth US$1.8 billion at a single branch in Mumbai.