​Fugitive diamond tycoon Mehul Choksi has been arrested in Antwerp, Belgium, after seven years on the run following his alleged involvement in the ₹13,500 crore Punjab National Bank (PNB) fraud case. His arrest was made on April 12, 2025, following an extradition request by Indian authorities.

Choksi, 65, along with his nephew Nirav Modi, is accused of orchestrating a massive fraud involving fake letters of credit to secure large loans, with the funds allegedly used to acquire luxury assets. Both men fled India in 2018; Choksi settled in Antigua, while Modi moved to London. Choksi recently relocated to Belgium, triggering a renewed extradition request by India.

Belgian authorities have confirmed Choksi’s presence in the country and acknowledged India’s extradition request. Choksi’s lawyer, Vijay Aggarwal, announced plans to appeal the arrest, citing his client’s poor health, low flight risk, and claims of the case being politically motivated, also highlighting concerns over inhumane conditions in Indian prisons. ​

Meanwhile, Indian authorities continue legal actions, including the auction of Choksi’s seized properties. In February, a Mumbai court allowed the auction of 13 properties belonging to Choksi’s company, Gitanjali Gems.

Sources