CBI Takes Custody of Economic Offender Monika Kapoor After Over Two Decades in the US
New Delhi:
Monika Kapoor, an economic fugitive wanted in a multi-crore import-export scam, has been taken into custody by the Central Bureau of Investigation (CBI) after being extradited from the United States. She had been absconding for over 20 years.
Officials confirmed that Kapoor is en route to India and is expected to arrive late Wednesday night.
Kapoor was extradited following a ruling by the United States District Court for the Eastern District of New York, under the India-US extradition treaty. India had formally requested her extradition in 2010.
The Fraud Case
Monika Kapoor, the owner of “Monika Overseas”, is accused of orchestrating a fraud in 1998 alongside her brothers, Rajan and Rajiv Khanna. The trio allegedly created fake shipping bills, invoices, and export documents to deceive banks and government authorities.
Using these forged documents, they illegally secured six replenishment licenses, allowing them to purchase duty-free gold worth around ₹2.36 crore. These licenses were sold to an Ahmedabad-based company, Deep Exports, which then imported the gold, causing a loss of approximately ₹1.44 crore to the Indian government.
In addition, the broader fraud is believed to have cost the Indian exchequer over $679,000.
Legal Proceedings and CBI Actions
Following an investigation, the CBI filed a charge sheet in 2004 against the trio. However, Kapoor fled to the US in 1999 and never appeared before the court. She was declared a proclaimed offender in 2006, and a Red Corner Notice was issued against her in 2010.
Meanwhile, her brothers Rajan and Rajiv were tried in India and convicted in 2017 by a Delhi court.
With Kapoor now back in India, the CBI is expected to resume proceedings against her in one of the longest-running economic offence cases involving extradition.
News Source : Information for this article was gathered from a variety of reliable news outlets.
