After 25 Years on the Run, Fugitive Monika Kapoor Extradited to India from the US
CBI Finally Nabs Economic Offender Accused in 1998 Gold Import Fraud
In a landmark development, the Central Bureau of Investigation (CBI) has successfully brought back Monika Kapoor, a Delhi-based businesswoman and one of India’s longest-evading fugitives. Kapoor, who fled to the United States in 1999 after being accused in a ₹1.44 crore economic fraud, was placed under arrest by Indian authorities and is now en route to India aboard an American Airlines flight.
According to senior officials, the flight is expected to land late Wednesday night, closing a 25-year-old chapter in one of India's most persistent white-collar crime cases.
Who is Monika Kapoor?
Monika Kapoor once ran Monika Overseas, an import-export firm in Delhi, alongside her brothers Rajan and Rajiv Khanna. At the time, the trio was little known in business circles, operating quietly until their names surfaced in what would become a high-profile fraud investigation by the CBI.
What Was the Fraud Case?
In 1998, Kapoor and her brothers allegedly devised an elaborate scheme involving forged shipping bills, export invoices, and falsified documentation to illegally obtain duty-free gold import licenses. These licenses were meant to support legitimate exporters under government-promoted schemes to encourage foreign trade.
However, as the CBI investigation later uncovered, no actual exports ever occurred. The company simply manipulated paperwork to gain access to these valuable licenses.
“They never exported the goods they claimed to have shipped. It was all part of a calculated move to defraud the government and abuse India’s export incentive system,” a CBI official said on condition of anonymity.
The fraudulent activity caused a loss of USD 679,000 (approx. ₹1.44 crore) to the Indian government, triggering a high-level probe.
Escape to the United States
In 1999, as the CBI closed in with mounting evidence, Monika Kapoor fled India, leaving behind her firm and family. She resettled in the United States, where she managed to live under the radar for more than two decades. Meanwhile, Indian courts declared her a proclaimed offender, and a non-bailable warrant (NBW) was issued for her arrest.
A Red Corner Notice was also circulated by Interpol, making her a globally wanted fugitive.
How Was She Found After 25 Years?
In what officials describe as a “meticulous international coordination effort,” the CBI, in collaboration with Interpol and U.S. federal authorities, tracked Kapoor’s movements and launched the formal extradition process earlier this year.
After months of diplomatic and legal procedures, U.S. authorities agreed to deport her to India. She was taken into CBI custody earlier this week and boarded on a commercial flight bound for India.
CBI’s Statement on the Arrest
A senior CBI officer confirmed:
“Monika Kapoor’s return to India is the result of sustained effort and persistent coordination with foreign law enforcement. She will now face due legal proceedings under Indian law. Her extradition sends a strong message to fugitives that time and distance won’t protect them from justice.”
What Happens Next?
Once Kapoor lands in India, she will be formally arrested and presented before a designated CBI court in Delhi. The charges against her include cheating, forgery, and criminal conspiracy under the Indian Penal Code, along with violations under the Customs Act and Foreign Trade (Development and Regulation) Act.
Legal experts suggest that given the passage of time and the scale of the fraud, Kapoor could face significant jail time if convicted.
Why This Case Matters
Monika Kapoor’s case is one of the longest-running extradition cases involving an Indian economic offender. Her return bolsters India’s efforts to bring back fugitives accused of financial crimes, such as Mehul Choksi, Nirav Modi, and Vijay Mallya, who have similarly used foreign jurisdictions to evade arrest.
Government’s Crackdown on Economic Offenders
The Narendra Modi-led government has intensified efforts to tighten laws against fugitive economic offenders through initiatives like:
- Fugitive Economic Offenders Act, 2018
- Strengthened coordination with Interpol and foreign governments
- Fast-tracked bilateral treaties and mutual legal assistance agreements (MLATs)
Monika Kapoor’s extradition marks another symbolic victory in India’s larger battle against economic crimes and cross-border fugitives.
Reader Takeaway
The return of Monika Kapoor after 25 years of evasion marks a significant moment in India's fight against economic crime. It underscores the growing reach and resolve of Indian investigative agencies like the CBI and sends a clear warning to other absconders: The long arm of the law will eventually catch up.