India, April 14 -- Fugitive diamond trader Mehul Choksi, wanted in India in connection with the Rs.13,500 crore Punjab National Bank (PNB) fraud case, was arrested by Belgian police over the weekend, just as he was reportedly preparing to flee to Switzerland under the guise of seeking medical treatment. The arrest marks a major breakthrough in a relentless seven-year pursuit by Indian authorities across three countries.

Choksi, the owner of the Gitanjali Group and a central figure in one of India's largest bank frauds, had fled the country in 2018 along with his nephew Nirav Modi, his wife Ami Modi, and brother Neeshal Modi. Soon after, he acquired Antiguan citizenship through its investment program, complicating India's attempts to brin...