Mehul Choksi, one of the main suspects in a $2-billion fraud at state-run Punjab National Bank (PNB), has issued a press statement refuting allegations surrounding his citizenship status in Antigua and Barbuda.

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The Citizenship by Investment unit of Antigua has faced criticism from the Indian media and authorities for allowing Choksi to get passport of Antigua in November last year.

"I can say categorically, that there is no truth in those allegations," Choksi said in a press statement dated July 26.

The unit, however, said that Choksi’s request was allowed after “due diligence” and detailed background check from Interpol.

According to a PTI report, Choksi had planned his escape and subsequent life in advance before the PNB scam was detected. He escaped the country on January 4 on an Indian passport and took the oath of allegiance in Antigua on January 15, the report said.

Choksi, however, denied media allegations and said the decision to move to the Caribbean was to expand his business.

"My application (for citizenship) was motivated by my desire to expand my business interest in the Caribbean and to obtain visa free travel access to 130 or so countries. That remains my key reason for choosing to become a citizen of Antigua and Barbuda," his letter read.

Choksi added that he had to visit the United States in January to receive medical treatment and that he is still recuperating.

"That being the case I have resided to Antigua and Barbuda, the country of my citizenship, and to abide by the laws of the country, as is the duty of every citizen," Choksi said in the letter.

Choksi allegedly swindled Rs 7,080.86 crore, making it possibly the biggest banking scam in the country, according to an FIR registered on January 31.

He filed a court application earlier this week for cancellation of an arrest warrant against him and said he could not disclose his location in public because of the threat to his life.