New India Cooperative Bank Scam Case: EOW Arrests Another Accused For Embezzling ₹70 Crore; Arunbhai Remains Wanted

Mumbai: In a significant development in the New India Cooperative Bank scam, the Economic Offences Wing (EOW) has arrested another accused, identified as Dharmesh Paun (58). The investigation has revealed that Paun embezzled ₹70 crore out of the ₹122 crore scam.

According to police sources, Unnathan Arunachalam alias Arunbhai is also a key suspect in the case and remains wanted. The authorities are intensifying their efforts to trace his whereabouts.

The scam, which involved siphoning off customers’ deposits from the Prabhadevi and Goregaon branches of the bank, is currently under a detailed probe by the EOW. Further arrests and revelations are expected as the investigation progresses.