New India Co-Operative Bank Scam

In the New India Co-Operative Bank scam, the Economic Offences Wing of Mumbai Police has got court permission to subject the principal accused, Hitesh Mehta, to a lie detector test in the Rs 122 crore embezzlement case. Mehta, a former General Manager of the bank, has been uncooperative during the investigation, and hence, the authorities have requested this measure to gather more information. The scam that saw the arrest of four people, including builder Dharmesh Paon, Abhimanyu, and Manohar has recently taken a new twist after the acting chairperson of the bank, Gauri Bhanu, and her husband, Hiren Bhanu, have left the country. Investigation states that Hiren Bhanu left on January 26 and Gauri Bhanu left for Thailand on February 10, only a few days before the case was actually filed on February 14. In conclusion, it is believed that the couple was informed about the investigation and, therefore, had to leave the country. More interestingly, the investigation showed that Hitesh Mehta made a transfer of Rs 26 crore to Hiren Bhanu and Rs 2 crore to Gauri Bhanu, which only increases the level of their participation. The EOW has also named another accused, Unnatam Arunachalam, also known as Arun Bhai, as a fugitive. In the process of the investigation, the officers are still in the process of tracking down the fugitives and attempting to retrieve the stolen funds. The case has drawn national interest because of the size of the scam and the presence of highly placed people. The search for the fugitives has been boosted by a reward for anybody with information that can help arrest them, and the investigation is still ongoing to ensure that everyone involved is prosecuted.

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Browsing: New India Co-Operative Bank Scam