Lagatar24 Desk
New Delhi: The recent arrest of fugitive diamond tycoon Mehul Choksi in Belgium has cast fresh light on a meticulously constructed financial empire allegedly propped up by his own family. The ₹6,097.63-crore Punjab National Bank (PNB) scam, one of India’s largest banking frauds, was not the work of one man alone. Investigators claim it was a family-fuelled network that spanned continents, enabled by offshore firms, layered transactions, and complicit relatives.
Choksi’s Early Life and Family Network
Born on May 5, 1959, in Bombay (now Mumbai), Mehul Chinubhai Choksi rose to prominence as the promoter of Gitanjali Gems, a household name in India’s jewellery industry. But behind the glitter, authorities say, lay a deeply entrenched family-based operation. His brother, Chetan Chinubhai Choksi, and nephew, Nirav Modi — both named in related investigations — are considered key cogs in this machinery.
Choksi is married to Priti Choksi and has two children — Rohan Choksi and Priyanka Choksi. Rohan is married to Snagda Talera, daughter of Neha Talera of the Talera Auto family. Priyanka is married to Akash Mehta. These extended connections, investigators allege, formed a close-knit financial web used to move and disguise illicit wealth.
The Rohan Choksi Link: US Operations and Fraud Allegations
While he kept a low profile, Rohan Choksi allegedly played a pivotal role in Gitanjali’s US-based operations. According to former Samuels Jewelers CEO Farhad K Wadia, Rohan — alongside his wife Snagda and aunt Neena Seth — managed Voyager Brands in Austin, Texas. This firm served as Mehul Choksi’s American proxy.
A US bankruptcy court later found Rohan had been involved in misleading practices at Samuels Jewelers, such as mislabeling lab-grown diamonds as natural stones — part of a broader effort to route and camouflage funds linked to the PNB scam.
In 2018, Rohan was named under the Fugitive Economic Offenders Ordinance by a special court in Mumbai, confirming his direct implication in the scam’s financial trail.
Priti Choksi’s Offshore Holdings: A Shell Game
Priti Choksi wasn’t a bystander. She has been named in investigations as having controlled three key offshore entities: Charing Cross Holdings Ltd, Colindale Holdings Ltd, and Hillingdon Holdings Ltd. The latter held stakes in Goldhawk DMCC, a Dubai-based firm with real estate holdings of significant value.
Authorities found that over six lakh UAE dirhams (approximately ₹1.4 crore) were funneled from Gitanjali’s UAE arm — Asian Diamonds and Jewellery FZE — to Hillingdon Holdings, tying her directly to the laundering of proceeds from the scam.
Other Key Family Members: Nirav Modi, Nehal Modi, and Chetan Choksi
Nirav Modi, Choksi’s nephew, remains one of the primary accused in the scam and is currently lodged in Wandsworth Prison, UK, fighting extradition to India.
His brother, Nehal Modi, is accused of aiding in asset transfers and destroying crucial evidence. Choksi’s brother, Chetan Choksi, has also been investigated for overseas business links, particularly in the UAE and Caribbean tax havens.
A Family Empire Now Under Siege
What once appeared to be a booming family-run diamond empire now lies in ruins, riddled with financial fraud, extradition battles, and global investigations. With Mehul Choksi now in custody, the focus of Indian investigators is set to intensify on the roles of each family member in this elaborate financial deceit.
