EOW Issues Non-Bailable Warrant for Bhanu Couple in ₹122 Crore Bank Scam
The Economic Offences Wing has intensified its investigation into the New India Cooperative Bank embezzlement case, arresting seven individuals and seizing ₹28 crore in assets linked to the absconding masterminds.
- The ₹122 crore scam at New India Cooperative Bank was uncovered during an RBI inspection on February 12, 2025, revealing large-scale embezzlement and laundering of funds.
- The Bhanu couple, alleged masterminds and former bank officials, fled abroad and now face a non-bailable warrant issued by the EOW, which is also seeking international assistance for their extradition.
- Seven arrests have been made, including Javed Azam, brother of a BJP leader, who allegedly received ₹18 crore and helped a co-accused evade arrest by providing shelter and facilitating movement across states.
- Properties worth ₹28 crore linked to the Bhanu couple, including land and apartments, have been seized by the EOW, with evidence suggesting these were purchased using embezzled funds.
- The EOW is conducting joint interrogations of the arrested individuals to trace the distribution and laundering of the siphoned funds, while seeking further custody of key suspects to uncover additional details.
Free Press Journal 
Hindustan Times 