New India Co-operative Financial institution fraud: Needed accused Kapil Dedhia arrested, remanded to custody until March 19
Kapil Dedhia additionally obtained cash from Unnathan Arunachalam, one other needed accused within the case, and prime accused Hitesh Mehta, the financial institution’s former basic supervisor and head of accounts.
The Financial Offences Wing (EOW) of the Mumbai police has arrested an accused from Vadodara within the Rs 122-crore embezzlement at New India Co-operative Financial institution, an official mentioned on Saturday. Civil contractor Kapil Dedhia was apprehended in Gujarat on Friday and delivered to Mumbai on Saturday.
A neighborhood courtroom right here remanded him in police custody until March 19, he mentioned. Based on the police, Rs 12 crore of the misappropriated quantity was credited to Dedhia’s account. He obtained part of the cash from actual property developer Dharmesh Paun, additionally an accused.
Dedhia additionally obtained cash from Unnathan Arunachalam, one other needed accused within the case, and prime accused Hitesh Mehta, the financial institution’s former basic supervisor and head of accounts.
Additional investigation is underway to hint all the fund circulate and determine different people concerned within the fraud, the official mentioned. Based on the police, Rs 122 crore was embezzled from the safes of the financial institution’s Prabhadevi and Goregaon workplaces in Mumbai.
Together with Dedhia, EOW has arrested 5 individuals up to now and plenty of extra have been named as needed accused, together with the financial institution’s former chairman Hiren Bhanu and his spouse, ex-vice-chairperson Gauri Bhanu, who fled overseas simply earlier than the rip-off got here to mild.
