EOW Makes Eighth Arrest in New India Cooperative Bank Fraud Case

The EOW arrests Rajeev Ranjan Pandey in connection with the New India Cooperative Bank fraud, bringing the total to eight arrests. Pandey allegedly received ₹15 crore from a larger sum siphoned from the bank. Investigations continue, including brain mapping tests for the main accused, Hitesh Mehta. Former bank chairpersons maintain innocence, attributing the scam to Mehta.

The Economic Offences Wing (EOW) has apprehended Rajeev Ranjan Pandey, a 45-year-old man from Jharkhand, marking the eighth arrest in the New India Cooperative Bank money siphoning case. The police report indicates that Pandey was a beneficiary who allegedly received approximately ₹15 crore from a total of ₹122 crore siphoned from the bank.

Pandey was arrested in Bokaro, and his involvement surfaced during the interrogation of another accused, Unnathan Arunachalam. Unnathan, a businessman focused on solar panels, reportedly received around ₹50 crore from Hitesh Mehta, the main accused and the GM of accounts at the bank, with ₹15 crore subsequently transferred to Pandey.

Authorities are investigating Pandey’s background in money doubling schemes and interrogating him to clarify the reasons behind his receipt of the funds. Additionally, the police plan to conduct a brain mapping test on Hitesh Mehta following the results of his lie detector test, which was deemed “deceptive.”

Moreover, Haji Javed Azam, the younger brother of former BJP Maharashtra secretary Hyder Azam, has also been arrested in relation to this case. Reports suggest he owns eight electronic stores in Bihar under the name Digital Duniya. Gauri and Hiren Bhanu, former chairpersons of the bank, remain fugitives and maintain their innocence, claiming that Hitesh Mehta orchestrated the scam.

The EOW’s investigation into the New India Cooperative Bank fraud continues with Rajeev Ranjan Pandey’s recent arrest as the eighth suspect. Authorities are probing the financial ties among the accused and the infrastructure of the alleged scams. The upcoming brain mapping test on the main accused, Hitesh Mehta, is anticipated to provide further insights into the case. Furthermore, the involvement of other prominent individuals highlights the extensive nature of the fraud.

Original Source: www.hindustantimes.com