Mehul Choksi arrested in Belgium, likely to be extradited to India
Fugitive diamond merchant Mehul Choksi was arrested by the Belgium police on Saturday, at the behest of the Central Bureau of Investigation (CBI), reports said on Monday.
The 65-year-old businesman who is a prime accused in the the $2-billion Punjab National Bank (PNB) fraud is likely to be extradited to India, a report in the Economic Times said.
India has an extradition treaty with Belgium and the authorities there have sought a formal extradition request from Indian authorities.
Choksi who is currently in jail is expected to seek bail and an immediate release, citing health reasons.
Choksi’s and his nephew, Nirav Modi have been accused of defrauding the PNB of over Rs 14,000 crore, one of biggest scam in the history of Indian banking.