Bank embezzlement accused Mehta used to phone staffers to disburse money from safes: Cops

Mumbai, Feb 20 (PTI) New India Cooperative Bank's general manager and head of accounts Hitesh Mehta, the main accused in an embezzlement case connected to the lender, used to call two bank employees on phone asking them to hand over Rs 50 lakh at a time from the safe to persons he used to send, police officials said on Thursday.

Mehta and real estate developer Dharmesh Paun are in custody since Sunday in connection with a Rs 122 crore embezzlement case at New India Cooperative Bank, which came to light following an inspection by the Reserve Bank of India. The Economic Offences Wing of Mumbai police is probing the case.

"Mehta had access to the safes of the banks as he was the custodian. The statements of two bank staffers have been recorded. They have said how they used to give cash to those sent by Mehta. These bank staffers, who are witnesses in the case, have said they handed Rs 50 lakh cash more than once to several persons," the official informed.

The probe so far has found that a former employee of the lender wrote to RBI about the prevailing situation, he said, adding this information is being verified with the RBI.

Authorities were aware the bank was in an unhealthy state since non-performing assets (NPAs) were rising following disbursal of money to ineligible persons, the official said.

"Considering the bank's situation in the last two years, we are probing why the misappropriation of funds was not pointed out in audits. We have started recording statements of those who conducted the audits. While cash as per the books was Rs 138 crore, an RBI inspection found Rs 122 crore of this missing from two safes of the bank. The EOW is verifying if the money went missing at one go," the official said.

The official said the statement of Abhijeet Deshmukh, a partner of the chartered accountancy firm involved in the audit of the bank, was recorded by EOW at the commissionerate in south Mumbai.

"The statement of the bank's former CEO Abhimanyu Bhoan was recorded on Wednesday, He was called again today as part of the probe. Meanwhile, accused Unnathan Arunachalam alias Arun Bhai, to whom Mehta gave Rs 50 crore, is still absconding," the official informed. PTI DC BNM

Source: PTI