Choksi Faces Another $800m of Fraud Charges

By John Jeffay / December 19, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Fugitive jeweler Mehul Choksi, accused of a $1.8bn fraud against the Punjab National Bank (PNB) is facing additional charges totalling another $800m.India's Central Bureau of Investigation (CBI) has lodged a fresh FIR (first information report) detailing allegations against Choksi, 62, his three companies - Gitanjali Gems, Gili India and Nakshatra Brands - and their directors.Choksi (pictured) is currently on the Caribbean island of Dominica, after disappearing in May 2021 from his new home in Antigua, where he took up citizenship. He is fighting moves to extradite him to India to stand trial.The new charges relate to allegations that he defrauded and diverted loan funds from the PNB and the ICICI Bank totalling over $800m.

Recent News

Mining stock ETFs slide, gold sector valuations high

March 16, 2026 / www.canadianminingreport.com

Rise in oil price a potential net gain for Canada

March 16, 2026 / www.canadianminingreport.com

Gold stocks slump partly on fears of cost increases

March 09, 2026 / www.canadianminingreport.com

Canadian provinces rank high in Fraser Institute Survey

March 09, 2026 / www.canadianminingreport.com

Major producers and most of TSXV gold see strong gains

March 03, 2026 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok