NEW DELHI: Mumbai Police’s Economic Offences Wing (EOW) has arrested the fourth accused, Manohar Arunachalam, in connection with the New India Cooperative Bank scam case, officials said on Friday.
According to officials, Manohar Arunachalam is accused of directly receiving a sum of money from the accountant as part of the fraudulent transactions linked to the New India Cooperative Bank scam. His father, U Arunachalam, was reportedly present during the exchange of the financial misconduct.
Furthermore, Manohar is believed to have played a crucial role in facilitating his father’s escape, allegedly helping him evade law enforcement authorities after the illicit transaction took place.
All four arrested accused in this case will be produced in court today.
Meanwhile, the EOW is set to move court seeking permission for a lie detector test on Hitesh Mehta, the prime accused in the case.
Investigators are continuing their probe into the financial irregularities linked to the scam.
New India Cooperative Bank GM Hitesh Mehta arrested in Rs 122 crore scam case
Mumbai police has arrested Hitesh Mehta, the General Manager of New India Cooperative Bank, in connection with an alleged Rs 122 crore embezzlement case, officials confirmed. The arrest followed a complaint filed by the bank’s acting chief executive officer, Devarshi Ghosh, at Dadar police station on Saturday, accusing Mehta and others of financial misappropriation.
Given the magnitude of the fraud, the case was subsequently transferred to the Economic Offences Wing (EOW) for an in-depth investigation. Mehta was previously brought to the EOW office in South Mumbai for questioning regarding the alleged financial discrepancies.
According to the complaint, Mehta, who served as the head of accounts, conspired with his associates to siphon off funds from the bank’s Prabhadevi and Goregaon branches. Police have registered a case under Sections 316(5) (criminal breach of trust by bankers and public servants) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita.