Overview

• 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.