Wanted in Rs. 13,500 crore Punjab National Bank scam, Choksi was granted citizenship in the Caribbean nation in January 2018 on the basis of the 'good character certificate' given by India. Indian officials, Choksy along with Nirav Modi has fled India much before both were booked for fraud in PNB scam. Antigua is among many tax havens countries in the Caribbean. Now Antigua has called Choksi a "crook"
Antiqua Antigua and Barbuda blamed India for misleading his country on a "crook". "Our officials acted based on the information from India and made him a citizen... the Indian officials have to take the responsibility for that situation," said Antigua Prime Minister. Choksi and Nirav Modi are relative.
Modi govt had cancelled the passports of both Mehul Choksi and Nirav Modi in February, after investigators uncovered the huge loan fraud at PNB. Nirav Modi was arrested on March 20 in UK and has been in a prison in the UK, one of the largest prisons in Western Europe.
As many as 36 big ‘economic offenders’ including Vijay Mallya, Nirav Modi and Mehul Choksi have fled from India,according to infi given in Lok Sabha. Together, they are responsible for defrauding the public exchequer of to the extent of more than Rs.40,000 crore.The names of these offenders were revealed by the external affairs minister of state in Lok Sabha on 14 March 2018. The names of these offenders were revealed by the MoS, external affairs minister of state in Lok Sabha on 14 Marc
Most of these billionaire fugitives fled the country in the past few years, the most recent being Nirav Modi, Mehul Choksi and company who are accused of defrauding the Punjab National Bank of over Rs.13,700 crores.
Apart from Nirav Modi ad Mehul Choksi,the amounts embezzled by some of those in the red list of fugitives are: Vijay Mallya (Rs.9,000 crore); Jatin Mehta (Rs.7,000 crore); Lalit Modi (Rs.125 crore); Chetan Jayantilal Sandesara and Nitin Jayantilal Sandesara (Rs.5,000 crore); Ashish and Priti Jobanputra (Rs.770 crore); Ritesh Jain (Rs.1,500 crore); Sabhya Seth (Rs.390 crore); and Sanjay Bhandari (Rs.150 crore), according to a report.
To bring these fugitive offenders to home. Modi govt has enacted Fugitive Economic Offenders Act, 2018. It is an Act that seeks to confiscate properties and assets of economic offenders that evade prosecution by remaining outside the jurisdiction of Indian courts. Economic offences with a value of more than Rs 100 crores, come under the purview of this law. The bill was passed on 12 March 2018. On 25 July 2018, the Parliament passed the bill.
Despite stringent laws, there is no end to economic offences because of widespread "corruption" from top to bottom.. Infact, the situation is so grim that every day there is rumor of closure of one bank after another. Just two days back, RBI had to limit the daily withdrawal to Rs. 1000 in scam hit Punjab & Maharashtra Co-operative Bank Ltd. Customers of the Bank are just crying and protesting at various branches of the bank. There are many more such banks hit by scams and on the verge of collapse. With scam after scam and closure or merger after merger, people have lost the faith in banking system. Banks have become haven for fraudsters. How long will citizens suffer?