Mumbai Police Investigates ₹122 Crore Bank Scam with Polygraph Test for Key Suspect

Hitesh Mehta, accused of embezzling funds from New India Cooperative Bank, faces conflicting claims over money transfers as authorities probe the missing amount.

• The Economic Offences Wing (EOW) of Mumbai Police is seeking court permission to conduct a polygraph test on Hitesh Mehta, the primary accused in the ₹122 crore New India Cooperative Bank scam.
• Mehta allegedly siphoned off funds from the bank's cash vaults between 2020 and 2024, but discrepancies in his statements about the money's usage have prompted further investigation.
• Mehta claims to have given ₹70 crore to builder Dharmesh Paun for a slum rehabilitation project and ₹40 crore to a businessman identified as Arun Bhai, but both recipients have provided conflicting accounts of the transactions.
• The scam was uncovered during an RBI inspection on February 12, 2025, which revealed missing funds, raising questions about how the embezzlement went unnoticed by auditors for years.
• Authorities have issued a lookout notice for Arun Bhai, who remains at large, and are scrutinizing bank employees, auditors, and CCTV footage to trace the money trail.

3 Articles

Hindustan Times Free Press Journal Free Press Journal