Mumbai: In a significant development in the ₹122 crore New India Co-operative Bank scam, the Economic Offences Wing (EOW) arrested Rajiv Ranjan Pandey (45) from Bokaro, Jharkhand. Pandey is the eighth person to be arrested in the case. The EOW team brought him to Mumbai on Saturday and will present him in court today, a senior officer confirmed.
₹15 Crore Handed Over By Arunachalam To Pandey: According to EOW sources, Arunachalam, one of the previously arrested accused, had given ₹15 crore to Pandey. This amount was part of the ₹40 crore that Hitesh Mehta, the prime accused, had handed over to Arunachalam. EOW's investigation revealed that Pandey, along with three others, had traveled from Jharkhand to Mumbai and convinced Arunachalam to invest in their business, promising significant returns. Trusting them, Arunachalam transferred ₹15 crore to Pandey for investment purposes. The EOW is now working to identify the three other individuals involved in the scheme.
Brain Mapping Test Scheduled For Hitesh Mehta: In another major update, Hitesh Mehta, the prime accused, is set to undergo a brain mapping test on March 28 at the Forensic Science Laboratory (FSL). The EOW had previously sought court approval for this test, which has now been scheduled. Mehta had earlier undergone a lie detector test on March 11, which yielded negative results, indicating potential deception. Unlike the lie detector test, which has a limited set of questions, the brain mapping test has no such restriction, making it a more thorough investigative tool. The EOW hopes the test will reveal crucial information about the misappropriated funds and the individuals involved.
Javed Azam Invested ₹15 Crore In Electronic Business: The EOW also uncovered that Javed Azam, the brother of BJP leader Hyder Azam, who was previously arrested, had used the ₹15 crore he received from Arunachalam to expand his electronics business. Investigators revealed that Javed opened 11 electronic stores under the name "Digital Duniya" across Bihar, using the scam money. During interrogation, Javed admitted to this investment. Following this revelation, the EOW plans to send a team to Bihar next week to seize Javed’s properties acquired using the misappropriated funds.
Further investigation revealed that before the scam came to light, Arunachalam's Andheri office was targeted in a robbery. The thieves managed to steal a significant amount of cash, which was part of the misappropriated funds. However, Arunachalam and Javed did not report the robbery to the police, fearing that the stolen cash would expose their illegal activities. The EOW is now verifying details related to this incident.
The EOW continues its investigation, tracking the financial trail and identifying other individuals involved in laundering the scam money. Authorities are also preparing to seize more properties linked to the accused and interrogate them further.
