Mumbai: A major revelation has surfaced in the ₹122 crore New India Bank scam, as Mumbai Police’s Economic Offences Wing (EOW) has uncovered that the prime accused, GM Hitesh Mehta, allegedly laundered ₹50 crore through two trusts with the help of fugitive accused Arunanchalam, alias Arunbhai.
Mehta withdrew ₹50 crore in cash from the bank and handed it over to Arunbhai, who assured him that depositing the money into trust accounts would not only convert black money into white but also yield substantial profits. Acting on this assurance, Mehta deposited the amount into two trusts. The exact profit he gained from the transaction is still under EOW investigation.
A senior officer stated that Arunbhai remains at large, and his arrest could reveal further details, including the names of the two trusts involved in the scam.
Lie Detector Test for Mehta
The EOW is preparing to conduct a lie detector test on Hitesh Mehta and will file a court petition this week. According to sources, Mehta’s consent is required for the test. If he refuses, it could indicate that he is hiding crucial facts. If he agrees, the test might lead to more key revelations.
Former CEO Allegedly Bribed to Stay Silent
The investigation has also revealed that former CEO Abhimanyu Bhon was aware of Mehta’s fraudulent activities but was allegedly bribed with ₹1-2 crore to remain silent.
RBI Provides Crucial Evidence to EOW
The Reserve Bank of India (RBI) has handed over a video confession in which Mehta admitted to embezzling ₹122 crore. Additionally, RBI has provided audit reports from the past five years and other critical documents to assist the investigation. However, no RBI official’s statement has been recorded yet.
EOW Seeks Mehta’s Asset Details
To trace and seize Mehta’s properties, the EOW has written to the Income Tax Department and the Inspector General of Registration & Controller of Stamps (IGRC), Pune. Once the asset details are received, the EOW will initiate the property seizure process.
The investigation is ongoing, with officials determined to track down missing funds and identify other individuals involved in the scam.
