Mehul Choksi Arrested in Belgium Over ₹13,578 Crore Loan Scam

Belgian authorities have arrested Mehul Choksi, the fugitive diamond businessman, in connection with a massive loan fraud case involving Punjab National Bank (PNB). Choksi, who fled India in 2018, is accused of defrauding PNB of ₹13,578 crore with the help of his nephew Nirav Modi.

Indian authorities have been seeking Choksi’s extradition for years. The Central Bureau of Investigation (CBI) welcomed his arrest, calling it a major step toward justice. The businessman faces charges of money laundering and financial fraud.

Nirav Modi, also wanted in the case, is currently in custody in the UK, awaiting extradition to India.