Indian authorities have frozen more than $1.8m (£1.4m) in assets belonging to fugitive businessman Mehul Choksi.
The Enforcement Directorate (ED) said the assets include land, residential and commercial properties, and bank accounts across 16 countries, including the US, UK, UAE, and Switzerland.
Choksi, who holds Antiguan and Barbudan citizenship, is wanted in India over the $2bn (£1.6bn) Punjab National Bank fraud case, along with his nephew Nirav Modi.
Modi remains in a UK prison fighting extradition, while Choksi is contesting India’s request for his return.
Both face charges of fraud, money laundering, and corruption.
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So how how much money he have in the banks in antigua ? We will soon hear that his funds will be confiscated by the government.
Wonder if we had held Choksi in prison pending his extradition as the UK is doing his cousin, if he would give in to the extradition request? Thameside prison in the UK is a private prison that has about 900 beds. In mates get to wear pink. The inspections of Thameside prison in 2021 found that prisoners spent too much time locked in their cell (1.5 hours a day for those in cell block 1 vs 4 hours for those in block 2). Overall the prison was rated good but there was room for improvement. The cost of housing a prisoner in the UK is (£51,724) 172,319.80 EC dollars a year (2022). At Thameside its £42,250. Considering the average income in the UK £37,430, i suspect their tax payers would be unhappy with the £200K (some 666934.02 EC), they have spent so far holding Modi, these past 5 years
India’s decision to freeze $1.8 million in assets belonging to Mehul Choksi is a commendable step in the fight against financial crime. It sends a strong message that such fugitive activities will not go unpunished, and that international cooperation is essential in dealing with cases of this nature. However, while this move is a positive development, the question remains: what actions are being taken by Antigua and Barbuda to ensure that individuals like Choksi are held accountable under local laws? More robust legal processes on both sides are necessary to prevent future cases from slipping through the cracks.
India is taking right step towards india’s most wanted person …….soon you will hear that government of Antigua and barbuda also find out some frauds with the name of mehul chowksi in our beautiful island 🏝️
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