Father-Son Duo in Rs 122 Crore Bank Embezzlement Case

The Mumbai police's Economic Offences Wing has arrested Manohar Arunachalam, son of the absconding accused Unnathan Arunachalam, in a Rs 122 crore embezzlement case involving the New India Cooperative Bank. Manohar allegedly assisted his father in fleeing and has been remanded in police custody.

In a significant development, Mumbai's Economic Offences Wing has apprehended Manohar Arunachalam, the son of a businessman implicated in a Rs 122 crore embezzlement scandal at the New India Cooperative Bank. This arrest marks the fourth apprehension in a case that has garnered substantial attention.

The primary individual at the center of this investigation, Unnathan Arunachalam, remains at large. Authorities have intensified efforts to locate him, issuing a lookout circular and offering a reward for information that leads to his capture. Unnathan is suspected of embezzling Rs 40 crore from the bank.

Manohar's arrest followed revelations about his role in aiding his father's escape. The probe exposed financial transactions linked to embezzlement, involving prominent figures such as the bank's former CEO and the head of accounts. The case was triggered by discrepancies discovered during an RBI inspection.