I’m a soft target, have nothing left to give, says Mehul Choksi

NEW DELHI: ...the Indian govt is finding it impossible to get other wanted persons extradited from countries such as the UK… The bank is liable for the lapses. MEHUL CHOKSI,

Diamond jeweller

Diamond jeweller Mehul Choksi said on Sunday that he is a “victim of political persecution” and a “soft target” for the Indian government because it is finding it “impossible” to get other people wanted for economic crimes extradited from the UK.

In his first media interview since the accusations surfaced, Choksi, who is in Antigua and Barbuda, said he was confident that the government of his new country would “protect its citizen” in accordance with the law of the land.

Choksi and his nephew and fellow diamond merchant Nirav Modi have been accused of defrauding the state-owned Punjab National Bank (PNB) to the tune of ₹13,500 crore.

A multi-agency probe is on against him – involving the Central Bureau of Investigation (CBI), the Enforcement Directorate (ED) and the Income Tax Department – and formal charges have been filed against him by CBI and ED.

“I am being considered as a soft or easy target because the Indian government is finding it impossible to get other wanted persons extradited from countries such as the UK… There were complacencies in the bank operations, systems, procedures guidelines, etc, as many bank officials have been charged for not doing their job according to the banking norms and policies. The bank is squarely liable for the lapses. However, I have been made a scapegoat,” Choksi said in an interview that was conducted over the phone and through written responses in an interaction that was facilitated by his legal team.

Asked about his involvement in the fraud, Choksi said, “I do not know the exact financial details because there were officers in my company who dealt with such matters… I know that we have a more than a two-decade-old relationship with Punjab National Bank.” When asked whether he was still interested in settling the dues with PNB, Choksi said: “My brand value has come to zero… Everything I have has been seized. They can sell off my assets and pay whoever has to be paid. They should take it from ED, I am in no position to return any money.”

Choksi’s nephew Nirav Modi has been traced to the UK, and India has mounted a legal challenge to bring both of them back to face trial.

India has also been trying to extradite liquor baron Vijay