Choksi fled India in early 2018 before the scam was exposed and subsequently acquired citizenship in Antigua and Barbuda.
According to the ED, funds obtained through the fraud were routed through various offshore entities to disguise their origin, using classic money laundering techniques such as layering, placement, and integration to blend illicit funds into legitimate financial channels.
Choksi, the former chairman of Gitanjali Group and uncle of Nirav Modi, played a central role in the ₹13,500 crore PNB scam, one of India’s largest financial frauds.
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