Ex-Cooperative Bank Leaders Wanted for Massive Embezzlement Scandal

Hiren and Gauri Bhanu, former leaders of New India Co-Operative Bank, are wanted in a Rs 122 crore embezzlement case. The Mumbai police's Economic Offences Wing is investigating, having already arrested former bank manager Hitesh Mehta, ex-CEO Abhimanyu Bhoan, and developer Dharmesh Paun.

The former chairperson of New India Co-Operative Bank, Hiren Bhanu, and his wife, Gauri Bhanu, are sought after in relation to a massive Rs 122 crore embezzlement case. This revelation comes amid ongoing investigations by the Mumbai police's Economic Offences Wing, according to officials.

Hiren Bhanu, who has renounced his Indian citizenship to become a British national, is reportedly abroad with his wife. They held senior positions at the bank during the embezzlement period. Civil contractor Kapil Dedhia and Unnathan Arunachalam, aka Arun Bhai, are also implicated, bringing the total number of wanted individuals to four.

The embezzlement case surfaced following an RBI inspection. The EOW arrested key players like former bank general manager Hitesh Mehta and others. They have submitted a court application for Mehta's forensic psychological testing, including a lie detector test. Properties linked to the accused are targeted for attachment as the investigation progresses.