The Multinational Heist: Exposing the Rs 122 Crore Scandal at New India Co-Operative Bank

Hiren and Gauri Bhanu, former executives of New India Co-Operative Bank, are wanted for their role in a Rs 122 crore embezzlement scandal. Investigations reveal they received a substantial portion of the stolen funds. Various arrests have been made, while the couple remains overseas. The case involves multiple suspects and complex financial dealings.

Hiren Bhanu, former chairperson of New India Co-Operative Bank, alongside his wife Gauri, are embroiled in a vast Rs 122 crore embezzlement investigation led by Mumbai Police's Economic Offences Wing. Their involvement is central, with allegations they received Rs 28 crore from the illicit activities.

The Bhanus surrendered Indian citizenship, living abroad as British nationals. Meanwhile, bank's former CEO Abhimanyu Bhoan, general manager Hitesh Mehta, and others face legal action as the probe intensifies, uncovering extensive financial misconduct.

Authorities have discovered Mehta's significant real estate holdings, while court permission has been secured for forensic tests to extract further details. The scandal spotlights the intricate web of deceit and financial impropriety within the banking sector.

(With inputs from agencies.)