Builder Arrested in Rs 122 Crore Scam
written by : Arvind Jadhav
Mumbai: In a significant progress, the Economic Offences Wing (EOW) of Mumbai Police has arrested Dharmesh Jayantilal Poun, a 58 year old builder, in connection with the Rs 122 crore fraud at New India Co-operative Bank. The accused was arrested on Sunday and has been sent to judicial custody till February 21.
According to the police, Poun had paid Rs 70 crore to Hitesh Mehta, the General Manager of the bank, who was arrested earlier in connection with the scam. The police suspect that Mehta and his associates had siphoned off Rs 122 crore from the treasury of the bank’s Prabhadevi and Goregaon branches.
The case was registered with the EOW in 2019, and the investigation has been ongoing since then. The police have also suspected the involvement of other accused in the case and are investigating further. The EOW has been probing the scam, and several raids have been conducted to gather evidence.
The arrest of Poun is a significant progress in the case, and the police are hoping to recover the stolen amount and bring the perpetrators to justice. The case has raised concerns about the security of cooperative banks and the need for stricter regulations to prevent such scams.
The police have stated that the investigation is ongoing, and more arrests are likely to be made in the coming days. The EOW has appealed to anyone with information about the scam to come forward and assist in the investigation.
The New India Co-operative Bank scam has sent shockwaves through the banking sector, with many calling for greater transparency and accountability in the functioning of cooperative banks. The case is likely to have significant implications for the banking sector and may lead to changes in the way cooperative banks are regulated.
