An Indian businessman suspected of involvement in a large-scale banking fraud worth $2 billion has been detained in Belgium. This was reported by Reuters, according to UNN.
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According to reports, Indian businessman and jeweler Mehul Choksi became a key figure in the Punjab National Bank scandal.
Choksi, like his nephew Nirav Modi, is accused of the largest financial fraud in the history of Indian banks.
The 65-year-old businessman was arrested by Belgian police at the request of the Central Bureau of Investigation of India (CBI).
Choksi is expected to be extradited to India, as there is an extradition agreement between the countries. An official request for his transfer has already been submitted.
Despite the detention, Choksi intends to apply to the court for release on bail, citing his deteriorating health.
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Earlier, it was reported that another official of one of the public organizations was collecting money in Belgium, allegedly to help Ukrainian equestrian sport, but in fact enriched himself. According to reports, he appropriated 4 million hryvnias of donations for his own needs out of 790,000 euros.