Belgium has apprehended a fugitive jeweler who was wanted in connection with a purported $1.8 billion fraud case.
Mehul Choksi is wanted in connection with one of the largest bank scams in Indian history, which happened seven years ago.
One branch of Punjab National Bank, the second-biggest state-run institution in India, was the target of the alleged fraud.
The bank accused Nirav Modi, a millionaire jeweler, and Choksi, his uncle and the general director of Gitanjali Gems GTGM.NS, of defrauding PNB and filed a criminal case against them with India’s federal investigative agency.
In relation to the purported scam, police charged Choksi, Nirav Modi, and others with fraud.
Both diamond magnates have denied any misconduct.
“An appeal will be filed for his release, on grounds that he is undergoing cancer treatment and is not a flight risk,” Choksi’s attorney, Vijay Aggarwal, told Reuters on Monday.
According to him, Choksi had not broken any laws in Belgium.
Choksi is wanted over an alleged fraud that took place seven years ago.
