Choksi’s Indian properties seized

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At least 41 properties owned by Indian born billionaire Mehul Choksi have been seized in India.
Earlier this week, India’s Prevention of Money Laundering Authority declared that the properties obtained with ill-gotten means, and will be seized.
Choksi is at the centre of controversy surrounding a desire by the Indian administration to have him extradited from Antigua to face charges for an alleged US $2 billion bank fraud in India.
Several properties belonging to the wanted investor who recently obtained Antigua and Barbuda citizenship, have been declared money-laundering assets. According to the on-line news site, Scroll In, possession signage will be placed on the buildings that are located in Kolkata and Mumbai.
Choksi left India in January, a few weeks before the alleged massive scam at Punjab National Bank came to light in which he and his nephew, Nirav Modi, are accused of defrauding the bank of more than US$ 2 billion.
Choksi is living in Antigua after gaining citizenship in November 2017 through the country’s Citizenship by Investment Programme (CIP).
India does not allow dual citizenship, and while the authorities in Antigua and Barbuda are considering India’s extradition request for Choksi, the country’s Prime minister Gaston Browne has reiterated that the matter must go through due process, handled by the Director of Public Prosecutions (DPP), who just returned to the state.

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