Mehul Choksi, a key figure in the largest bank fraud in India's history, has been arrested in Belgium following an extradition request from India. He is accused of defrauding Punjab National Bank of nearly $1.8 billion in 2018 using forged documents to secure credit for purchasing and importing jewels. Along with Choksi, his nephew Nirav Modi is also implicated and facing extradition from the UK. Choksi is expected to challenge his extradition, citing medical reasons. This case highlights significant failures within the banking system and the complexities of international law.
Mehul Choksi, a fugitive diamond trader, was arrested in Belgium following an extradition request from India linked to an alleged $1.8 billion fraud against Punjab National Bank.
The scam, deemed the largest bank fraud in India's history, involved forged documents to raise credit for buying and importing jewels.
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