Mumbai EOW Cracks Down on Cooperative Bank Scam, Arrests Key Accused
The Economic Offences Wing (EOW) of Mumbai police arrested Arunachalam Ullahanathan Maruthuvar in connection with a Rs 122-crore embezzlement at New India Cooperative Bank. He is one of six arrested in the case, with others still wanted, including the former chairman and vice-chairperson who fled abroad.
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The Economic Offences Wing of Mumbai police has arrested a key suspect involved in a massive Rs 122-crore fraud at New India Cooperative Bank, officials confirmed on Sunday.
Arunachalam Ullahanathan Maruthuvar, 62, surrendered at the EOW office after being at large for a month. He is accused of receiving approximately Rs 30 crore of the stolen funds from Hitesh Mehta, the former general manager of the bank and the scam's prime accused.
Additional arrests have been made, including Kapil Dedhia, a civil contractor from Gujarat, linked to Rs 12 crore of the embezzled money. Meanwhile, other suspects including former chairman Hiren Bhanu and his wife, have fled the country.
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