Bank Scandal: The Bhanu Saga & The Missing Millions

Hiren and Gauri Bhanu, former executives of New India Co-Operative Bank, are wanted in an embezzlement case involving Rs 122 crore. The Economic Offences Wing of Mumbai police is investigating, having already arrested other key figures. The Bhanus are currently abroad, complicating the ongoing probe.

Hiren and Gauri Bhanu, former chairperson and vice chairperson of New India Co-Operative Bank, are at the center of a major embezzlement probe led by Mumbai police's Economic Offences Wing (EOW). The couple is wanted for their alleged involvement in siphoning off Rs 122 crore from the bank.

The investigation, which began after discrepancies were discovered during a Reserve Bank of India inspection, has already resulted in the arrest of several suspects, including former bank executives. Both Hiren and Gauri Bhanu, who received Rs 28 crore, are currently overseas, complicating the investigation.

In their absence, the EOW is pressing forward with the case, having uncovered significant assets linked to the embezzlement. Pending legal procedures include a forensic psychological test for one of the arrested suspects, aiming to uncover more details in this high-profile financial scam.