India Attempts U-Turn on Choksi's Red Notice

By John Jeffay / March 30, 2023 / / Article Link

(IDEX Online) - India's Central Bureau of Investigation (CBI) is bringing news charges against fugitive diamantaire Mehul Choksi.It hopes the move will persuade Interpol to re-impose the Red Notice, restricting his movements, that was lifted earlier this week.Choksi, 63, together with his nephew Nirav Modi, 53, is wanted by authorities in his native India over the alleged $1.8bn Punjab National Bank (PNB) fraud.The CBI says Choksi pledged overvalued, poor quality lab growns diamonds and gemstones to get a loan from Industrial Finance Corporation of India (IFCI) Ltd in 2016, an indication, it says, that he is an "habitual offender" and should be subjected to the Red Notice.Chokis's lawyers persuaded Interpol to lift the notice, which is "a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action".Screengrab courtesy ABP News

Recent News

Battery Metals Revert to Trend

June 05, 2023 /

Gold stocks rise on overall equity market exuberance

June 05, 2023 /

Eskay | Dr. Quinton Hennigh (May 19th, 2023)

May 25, 2023 /
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok