NEW DELHI, India: Indian-born diamond dealer, Mehul Choksi, has been arrested in connection with an almost USD2 billion (RM8.78 billion) bank fraud.
His lawyer, Vijay Aggarwal, said on Tuesday that Indian authorities had requested his extradition from Belgium.
Choksi, 65, was reportedly captured on Saturday and is receiving medical treatment for cancer, German Press Agency (dpa) reported.
His lawyer advocates for his release to defend himself against extradition outside of prison, asserting there is no risk of flight.
The Indian police CBI accuses Choksi and his nephew, Nirav Modi, of fraudulently obtaining illegal loans from the state-owned Punjab National Bank (PNB).
The scandal, which emerged several years ago, involved unauthorised transfers worth about USD1.8 billion (RM7.9 billion) discovered in 2018 at a Mumbai branch.
The funds reportedly flowed abroad through other financial institutions, with PNB employees allegedly assisting Choksi and Modi in obtaining the loans.
Modi was captured in London in 2019 and remains in a British prison, also facing an extradition request.
Indian media reports suggest Choksi has been hiding mainly in the Caribbean and with family in Antwerp, a global diamond trade centre, since the scandal.
The potential transfer of Choksi and Modi to India remains unclear.
Choksi’s lawyer plans to argue against extradition by claiming it is a “political case” and citing inhumane conditions in Indian detention facilities. – BERNAMA-XINHUA
