122 crore fraud, former GM arrested, know the way New India Co-operative Financial institution rip-off in Mumbai

The Financial Offenses Department of Mumbai Police (EOW) on Saturday arrested Hitesh Mehta, the principle accused within the case of alleged irregularities on the New India Co-operative Financial institution. On the identical time, now EOW will current Hitesh Mehta for remand within the vacation court docket of Mumbai tomorrow i.e. on Sunday. Hitesh will probably be requested to take remand of Rs 122 crore on costs of forgery and embezzlement of Rs 122 crore.

On the identical time, earlier EOW had despatched summons to Hitesh Mehta on this matter. After this Hitesh reached the workplace of EOW. The place the EOW staff interrogated him for about three hours on the third ground of the Financial Offense Wing after which Hitesh was arrested after that. In response to sources, the investigation has discovered that the accounts of all of the branches of Maharashtra and Gujarat used to maintain Hitesh Mehta and his staff.

Embezzlement between 2020 and 2025

The Reserve Financial institution of India on Friday suspected critical irregularities within the operation of New India Co-operative Financial institution in Mumbai. After this, the financial institution was banned for the subsequent 6 months. Throughout this time, any new mortgage has been issued or deposited and deposits have been banned. In response to the data, the shoppers are apprehensive about their cash after the issue going through the financial institution and the choice of RBI. A crowd of consumers is being seen outdoors the financial institution branches.

In response to EOW sources, Hitesh Mehta shouldn’t be in a position to reply the questions correctly. The complete questionnaire is prepared with the officers, which is predicated on the assertion of the FIR lodged at Dadar police station and the assertion of the New India Co-operative Financial institution Appearing Chief Govt Officer Debashree Ghosh. Investigations up to now have revealed that this monetary embezzlement of 122 crores was finished between 2020 and 2025. This embezzlement was particularly finished through the time of Kovid.

Hitesh confessed to withdrawing cash throughout interrogation

The locker of this cooperative financial institution’s ‘treasury’ is in Prabhadevi and Goregaon. The place this irregularity has occurred. Prabhadevi has been cheated by Rs 112 crore and Rs 10 crore from Goregaon. On the identical time, Hitesh Mehta had treasury keys of each Prabhadevi and Goregaon branches. On this embezzlement, 4 officers contained in the financial institution are additionally being investigated. These 4 accounts used to work with former supervisor Hitesh Mehta within the division.

In response to sources, when the RBI vigilance staff examined the financial institution’s account particulars, the money entry within the data and the money within the account got here to mild Rs 122 crore. After slowly, we’ve got withdrawn cash from the account. On the identical time, EOW can also be looking for out whether or not Hitesh Mehta together with different senior financial institution officers have been additionally concerned or not?

Tomorrow will probably be appeared in court docket for remand

Within the investigation of the Rs 122 crore financial rip-off in New India Cooperative Financial institution, the Financial Offenses Department detained the accused Hitesh Mehta from his NL Copmex home in Dahisar West. Tomorrow he will probably be produced within the Vacation Courtroom of Mumbai for remand. Eow is investigating this case with an angle of financial crime. Additionally, it’s being investigated that Hitesh has finished this embezzlement in what number of months. What number of extra individuals are concerned on this.

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