Managing director of Geetanjali Gems and the co-accused in the multi-crore Punjab National Bank (PNB) scam, Mehul Choksi said that the story surrounding financial fraud is a cover-up by the bank.
In an exclusive interview to THE WEEK from Antigua, where he has been living for the past one year, Choksi blamed the failure of the country's banking system that eventually caused a huge financial loss to the state-owned bank. “It is complete misinformation and cover-up by the bank. The bankers did not put the data in the centralised system. How is it possible that such a large amount of money was going in and coming out without the knowledge of the bank?” asked Choksi.
According to investigating agencies, Nirav Modi and his uncle Mehul Choksi, in connivance with certain bank officials, allegedly cheated the PNB of Rs 14,000 crore through issuance of fraudulent Letters of Undertaking (LoUs).
Choksi said it is wrong to label him a fugitive and added that the political slugfest in India had blown the whole issue out of proportion. He said he was targeted by the political parties to push their agenda. "I have suddenly been made the poster boy of corruption. How can corruption charges be levelled against me when I have not committed any fraud?" he added.
When asked whether he is willing to return to India, Choksi said he would do so if he is given a fair trial. Currently an Antiguan citizen, Choksi assured complete cooperation under the law for India's extradition efforts.
Meanwhile, the co-accused in the case, Modi was arrested by Scotland Yard in London last week on behalf of the Indian authorities. He has been sent to judicial custody till March 29 and the court proceedings for his extradition is expected to begin soon.
Choksi also spoke to THE WEEK about why and how he chose Antiguan citizenship, and how he had parted ways with Nirav Modi.
Read the full interview in the upcoming issue of THE WEEK dated April 7.
