When 'Raj' Escaped Choked

Once a leading figure in India's diamond industry, Mehul Choksi is now infamous as the mastermind behind one of the country's largest banking frauds and is currently facing extradition from Belgium to India.

- SUDHIR SURYAWANSHI

Born in Mumbai in 1959 and educated in Gujarat, Choksi inherited his father's diamond business and transformed it into the global Gitanjali Group. Known for his flamboyant lifestyle, he lived with his wife Preeti and their three children in luxury—while orchestrating what would become a ₹13,500 crore scam that shook India's financial sector.

The burly businessman expanded Gitanjali Gems into a retail powerhouse with over 4,000 outlets across India and abroad. Celebrities such as Aishwarya Rai, Kareena Kapoor, and Katrina Kaif endorsed his brand, helping it gain aspirational value among Indian consumers.

International expansion followed, with partnerships across the US, Europe, Japan, and West Asia. However, behind the glitz, financial mismanagement and fraudulent practices were beginning to unravel.