Belgium Bakes Up a Catch: Fugitive Businessman Snared in Diamond-Studded Fraud Trail
In a quiet European neighbourhood better known for waffles and lace, local law enforcement cracked a case that&rsquo;s been simmering for years. A fugitive businessman, once the glittering face of India&rsquo;s luxury jewellery trade, was picked up in Belgium this weekend at the request of Indian authorities&mdash;his alleged crime: baking falsehoods into paperwork and cooking up one of India&rsquo;s biggest bank frauds to the tune of ₹13,500 crore.
The arrest came just weeks after reports emerged placing the man in Antwerp, the diamond capital of the world, where he was reportedly living with his wife after securing a coveted Belgian 'F Residency Card'. But that residency, authorities say, was kneaded together with forged documents, half-baked declarations, and a generous dash of deception.
According to officials familiar with the case, the fugitive failed to disclose his existing Indian and Antiguan nationalities while applying for residency&mdash;an omission not taken lightly in immigration circles. He is also accused of submitting falsified documents to sidestep India&rsquo;s extradition dragnet, including a now-deleted Interpol Red Notice.
The man at the centre of the storm&mdash;once at the helm of a sprawling gemstone empire&mdash;is wanted back home in connection with a financial scandal involving fraudulently obtained letters of undertaking from a major state-run bank. The dough allegedly funnelled through shell companies and overseas channels has left the Indian banking sector scorched.
The fugitive&rsquo;s lawyer, in a February court appearance in Mumbai, insisted the businessman was in Belgium seeking treatment for a suspected cancer diagnosis and not evading justice. Yet investigators claim he was plotting a quiet escape to Switzerland, citing health reasons once again, this time eyeing a renowned cancer facility&mdash;possibly as a final retreat from the tightening net.
Back in India, the Enforcement Directorate and Central Bureau of Investigation have been preparing the legal batter for years. A plea to declare the accused a Fugitive Economic Offender remains pending before a Mumbai court, a designation that would allow the government to seize his properties&mdash;sprinkled across multiple countries like toppings on a cake gone stale.
Meanwhile, his nephew and alleged partner-in-crime remains in a British jail, locked in a battle against extradition. His multiple bail bids have been denied, and the icing on this international saga shows no sign of setting soon.
As Belgian authorities consider India&rsquo;s request to bring the fugitive home, the case remains a searing reminder: even in the world of high-end jewels and polished facades, the oven eventually reveals what&rsquo;s really been cooking.

Mehul Chokshi in Belgium police custody (AI image)

Extradition sought for ₹13,500-cr bank fraud, forged papers exposed Belgian hideout

Fugitive Jeweller Mehul Choksi Arrested in Belgium

Extradition sought for ₹13,500-cr bank fraud, forged papers exposed Belgian hideout

April 14, 2025 | 10:13 IST