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.

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