Mehul Choksi is a fugitive Indian businessman, residing in Antigua and Barbuda, who is wanted by the Indian judicial authorities for criminal conspiracy, criminal breach of trust, cheating and dishonesty including delivery of property, corruption and money laundering. He is wanted in Rs 13,500-crore loan fraud case related to the Punjab National Bank in India.
Mehul Choksi was last seen going for dinner in his car in Antigua and Barbuda on Sunday. He was reported missing after his abandoned car was found by his staff. He disappeared a day prior from Antigua and Barbuda, was captured in Dominica after a broad manhunt was dispatched to catch him. Interpol had given a Yellow Notice against him. Choksi was fighting two cases in Antigua related to his citizenship and his extradition to India, according to the CBI.
He had fled to India after taking citizenship in 2017 in Antigua, where wealthy foreigners can become citizens in exchange for investing there. He along with his nephew Nirav Modi, is wanted by Indian investigating agencies for allegedly swindling ₹ 13,500 crore as loans from state-run Punjab National Bank using fake documents. Nirav Modi, jailed in London, is contesting his extradition to India.
He was presented today for the bail in Dominican Court today where he was seen on a wheel chair in blue t-shirt and black shorts. He pleaded before the court and said he was kidnapped into the island. “Various non-nationals in Dominica are on bail for similar matters, so we are of the view that bail can be granted to our client.
Let stringent conditions be added to the bail condition, including a bail sum of $ 10,000 double the maximum penalty, for illegal entry,” Choksi’s lawyer argued in court. On which the court declined his bail. The court also said that he is a flight risk. “Given the severity of the matter, I am not convinced to grant bail,” Magistrate Candia Carrette-George ruled.