Monika Kapoor's Long Evasion Ends: The Gold Import Scam and Her Return
Monika Kapoor probably thought she’d put enough distance—and years—between herself and the Indian legal system. But 26 years on the run in the US weren’t enough. On July 9, 2025, CBI officers finally flew her back from New York to India, closing a long, bitter chapter in a scam that cost the exchequer at least ₹1.44 crore. The case puts the spotlight right back on economic fugitives—and the fresh resolve among investigators to bring them to justice, no matter how long it takes.
The drama isn’t just about the numbers. Back in the late '90s, Kapoor ran a business called Monika Overseas. Along with her brothers, Rajan and Rajiv Khanna, she cooked up a plan that only the boldest would dare attempt. The trio forged a bunch of shipping bills, bank certificates, and invoices—effectively tricking the government into issuing them six 'replenishment licenses.' These licenses made it possible to import gold without paying duties, a golden offer if you know how to abuse it.
- Those duty-free import licenses were then sold to Deep Exports, an Ahmedabad-based firm.
- With these in hand, Deep Exports brought in gold worth ₹2.36 crore, dodging customs and taxes meant for the government.
- The authorities figured the direct loss at ₹1.44 crore, but other estimates push that figure much higher—some even north of $679,000.
Convictions, Extradition, and a Renewed Focus on Fugitive Economic Offenders
The wheels of justice turned slowly. Investigators filed charges in 2004, booking all three siblings for conspiracy, cheating, and forgery. But by then, Monika Kapoor had already slipped away to the United States and overstayed her visa, making herself scarce every time Indian authorities came knocking. The Indian courts declared her a 'proclaimed offender' in 2006, which basically meant she was officially on the run.
Meanwhile, her brothers Rajan and Rajiv didn’t have the luxury of distance. They faced trial in India and were found guilty in 2017. Monika, however, remained a thorny loose end. In 2010, the Indian government got the ball rolling for her extradition, leaning on a bilateral treaty with the US. After years of paperwork, hearings, and waiting, the US District Court for the Eastern District of New York finally gave CBI the green light to bring her back.
With her extradition, there’s new momentum in India’s efforts against financial fugitives. Kapoor’s return sends a clear message: just because you leave the country doesn’t mean your crimes or the CBI will forget. Authorities are increasingly teaming up across borders, speeding up a process that, for years, seemed impossible against determined white-collar criminals.
Monika Kapoor will now have to stand trial in India for the multi-crore gold import scam, facing charges that have waited more than two decades for her day in court. The story now pivots back to Indian soil, but the message for economic offenders is already loud and clear.
