Mehul Choksi, a businessman who escaped from India for Punjab National Bank scam the biggest bank fraud in Indian history. Now Choksi has been caught in the Dominican Country in the Caribbean Nation. Choksi is expected to be deported directly to India soon.
In 2018, under the Letter of Undertakings Rs. 14,000 crore fraud case was filed against diamond jeweller Neerav Modi and his uncle, famous diamond dealer Mehul Choksi, at the Punjab National Bank. Following Neerav Modi’s escape to London, the Prevention of Money Laundering Act court declared Neerav Modi as a ‘fugitive economic offender‘. He was finally arrested in London on March 20, 2019. ( Letter of Undertakings – A sort of guarantee issued by a banking institution to a concerned person for obtaining a short-term loan from an overseas branch of an Indian bank)
Mehul Choksi also has citizenship in Antigua and Barbuda under the Investor Plan. Choksi has been hiding in Antigua and Barbuda since last 2018.
There are two cases against him in the Caribbean – one related to his extradition case to India and the other one is to the revocation of his Antigua citizenship.
News broke that Choksi had been missing from the residence for the past two days. Interpol issued a yellow notice against him. Police officers in the country found his vehicle at a restaurant and get started investigating him. Following this, Mehul was captured today in Dominica, a neighbour country of Antigua where he lived. He has been arrested by Dominica police.
Dominica has agreed to extradite Mehul Choksi to India, only then can he face the criminal charges against him there. We will not accept him again. By escaping from here he made a big mistake. The Dominican government and law enforcement have been cooperating with us. We have informed the Government of India about this,” said Gaston Browne, Prime Minister of Antigua and Barbuda.
Home Secretary of the United Kingdom Priti Patel last month approved a case involving the extradition of Neerav Modi to India. Neerav Modi has appealed against the verdict and an inquiry is underway. However, he is expected to face trial in India as soon as possible.