India Seeks Antigua’s Cooperation to Recover Mehul Choksi’s Global Assets
06 January 2025
The Enforcement Directorate (ED) in India is expected to engage with the Gaston Browne administration to investigate whether Mehul Choksi has accumulated wealth in Antigua and Barbuda. The ED aims to liquidate Choksi’s global assets, valued at approximately $2 billion, to compensate victims of his alleged fraud.
The agency has identified five properties linked to Choksi in Thailand, Dubai, Japan, and the U.S., including a villa, office space in Dubai, a flat in Manhattan, and shares in a Japanese company. Despite reaching out to foreign authorities, the ED has yet to receive responses.
This initiative aligns with a 2011 Mumbai court ruling that supported Indian banks seeking to prevent asset depreciation and recover funds. Choksi, who gained Antiguan citizenship through investment, was accused of a $1.8 billion bank fraud. In 2023, he alleged abduction and torture by a group aiming to extradite him to India. Captured in Dominica, he was charged with illegal entry before being returned to Antigua, where charges were dropped.
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