Who is Mehul Choksi, fugitive diamantaire wanted in PNB fraud case

Mehul Choksi, the fugitive diamantaire who’s wanted in the Rs 13,500 crore Punjab National Bank (PNB) fraud case, has gone missing in Antigua and Barbuda, the Caribbean country’s media reported. He, along with his nephew Nirav Modi, is accused in the case, which is being probed by the Central Bureau of Investigation (CBI).

Here is all you need to know about the fugitive businessman

Choksi is the owner of the retail jewellery firm Gitanjali that has over 4,000 stores across India. He took the reign of the company from his father, Chinubhai, in 1975.

Also read: Diamantaire Mehul Choksi moves Delhi HC against Netflix’s ‘Bad Boy Billionaires’

Right before the PNB bank scam came to light in 2018, Choksi took the citizenship of Antigua and Barbuda in 2017. He fled India in January 2018 and the scam came to light subsequently.

He and his nephew have been accused of siphoning off Rs 13,500 crore of public money from the state-run Punjab National Bank (PNB), using letters of undertaking.

Both are facing CBI’s probe, with Modi lodged in a UK jail after being repeatedly denied bail. 

Also read: UK clears extradition of Nirav Modi to India, accused in 13000 crore PNB scam

Meanwhile, the Antiguan police have launched a manhunt to nab Choksi, who was reportedly seen driving in the southern area of the island on Sunday.

In 2019, Antiguan Prime Minister Gaston Browne had said that Choksi would be sent to India once his legal options would end.