Dar es Salaam, April 14 -- INDIA: ARRESTED businessman Mehul Choksi is accused of being at the center of Indias biggest-ever bank scam, allegedly defrauding a state-run lender to the tune of $1.8 billion.

Fugitive diamond trader Mehul Choksi has been arrested in Belgium following an extradition request from India, authorities in New Delhi said on Monday.

The 65-year-old is accused of being involved in an alleged fraud of nearly $1.8 billion (€1.58 billion) against Indias second-biggest state-run lender by assets, Punjab National Bank (PNB), in 2018.

Other alleged perpetrators in the scam include Choksis nephew and fugitive celebrity jewelry designer Nirav Modi, other family members and employees of t...