EOW Seizes ₹28 Crore Properties in Expanding ₹122 Crore Bank Scam Probe
The investigation into the New India Cooperative Bank embezzlement has led to seven arrests, property seizures, and efforts to extradite key fugitives abroad.
- The Economic Offences Wing (EOW) has arrested seven individuals, including Javed Azam, brother of a BJP leader, for his alleged role in the ₹122 crore scam.
- Hitesh Mehta, the former general manager, admitted to siphoning funds from the bank’s vaults since the pandemic, implicating a network of accomplices.
- The Bhanu couple, identified as the masterminds, used ₹28 crore of the embezzled funds to purchase properties now seized by the EOW in Maharashtra and Gujarat.
- A Blue Corner notice has been issued to facilitate the extradition of the Bhanu couple, who fled abroad after the scam was uncovered.
- EOW is conducting joint interrogations of arrested individuals to trace the distribution and laundering of the stolen funds.
Free Press Journal 
Hindustan Times 