Mehul Choksi - Businessman
| Born | 5 May 1959 (age 65) Bombay, India |
|---|---|
| Citizenship | Indian |
| Education | G. D. Modi College |
| Occupation | Businessman |
| Title | Owner of Gitanjali Group |
| Spouse | Ami Modi |
| Children | 3 |
| Relatives | Nirav Modi (nephew) |
| Known for | Alleged bank fraud, wanted by Indian Judicial Authorities, Owner of Gitanjali Group |
Mehul Choksi is an Indian businessman. He was once a well-known name in India’s jewelry industry. He was the owner of Gitanjali Group, one of India’s biggest jewelry companies. Mehul Choksi built a huge business that sold gold and diamond jewelry in India and other countries.
He was born on May 5, 1959, in Mumbai, Maharashtra. Choksi studied commerce at Mumbai’s G. D. Modi College. He joined the family business, which was started by his father. Later, he expanded the business and turned it into a big jewelry empire. His company, Gitanjali Gems, became very successful. It had many famous jewelry brands under its name, like Nakshatra, D’damas, Gili, and Asmi.
Mehul Choksi became very rich. He was even listed as a billionaire at one time. His company had stores across India and also in countries like the USA, Japan, China, and the Middle East. He was known for bringing modern styles and international trends into the Indian jewelry market.
However, his life changed completely in 2018.
In February 2018, the Punjab National Bank (PNB) scam came to light. It became one of the biggest bank fraud cases in India’s history. The scam was worth over ₹13,000 crore (about 2 billion USD). The main people involved were Mehul Choksi and his nephew, Nirav Modi, who is also a jeweler.
According to Indian authorities, Mehul Choksi and Nirav Modi used fake letters of credit and fake documents to get money from Punjab National Bank. They used this money to buy diamonds, jewelry, and other luxury items. The fraud continued for many years without being caught. Bank employees helped them by not following the correct procedures.
When the scam was discovered, both Mehul Choksi and Nirav Modi had already left India. Choksi flew out of the country in January 2018, just weeks before the case became public. Soon after, Indian law enforcement agencies started investigating. The Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) filed cases against them for money laundering, cheating, and corruption.
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In an effort to avoid arrest, Mehul Choksi moved to Antigua and Barbuda, a small island country in the Caribbean. He had taken citizenship there under an investment program. He claimed he was innocent and that all the accusations were false. He said he was being targeted unfairly.
India has been trying to bring Mehul Choksi back to face trial. The Indian government requested his extradition from Antigua. However, the process has been slow due to legal and diplomatic challenges. Choksi’s lawyers argued that he cannot return to India because he would not get a fair trial.
In May 2021, there was another twist in the story. Mehul Choksi went missing from Antigua. A few days later, he was found in the neighboring island country of Dominica. He claimed that he was kidnapped and taken there by force. Indian officials tried to bring him back from Dominica, but once again, legal problems stopped the extradition.
This incident brought more media attention to the case. People in India followed the news closely. Many were angry that such a big scam could happen for so long without being caught. The case raised questions about the Indian banking system and how it allowed such frauds.
Mehul Choksi has denied all charges. He says he is being framed and is the victim of a political conspiracy. But Indian agencies say they have enough evidence to prove his role in the fraud. His assets in India have been seized. Several of his properties and bank accounts have been taken over by the government.
As of now, Mehul Choksi is still in the Caribbean and fighting his legal battles. The Indian government continues its efforts to bring him back. The case is ongoing, and the final result is still unknown.
The PNB scam has become a major symbol of corporate fraud in India. It also shows how important it is to have strong rules in the banking system. Mehul Choksi’s story is a warning about how big success can fall apart due to greed and dishonesty.
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