Mumbai Commissioner of Police Sanjay Barve: More arrests soon in PMC Bank scam

Updated: Oct 15, 2019, 08:13 IST | Faizan Khan | Mumbai

Commissioner Sanjay Barve said, "Police are with the depositors and shall do everything to ensure that the money is recovered and returned to them as soon as possible."

This picture has been used for representational purposes
This picture has been used for representational purposes

Breaking his silence on the PMC Bank scam, Commissioner of Police Sanjay Barve has said that the police are with the depositors and will do everything to ensure their money is recovered. The depositors again held a protest outside killa court where the three accused, Wariyam Singh, Rakesh and Sarang Wadhawan were produced on Monday. The court has granted further custody to the Economic Offences Wing (EOW) till October 16.

Commissioner Barve said, "Police are with the depositors and shall do everything to ensure that the money is recovered and returned to them as soon as possible. We fully understand what they have been going through."

"The SIT has recorded the statements of more than 25 people in connection with this case, mostly staff of PMC Bank and some other people close to the Wadhawans. Soon there will be some more arrests in the case, as the role of few more people who are directly involved in the fraud has surfaced," another senior IPS officer said.

The EOW SIT told court that the money was diverted through hawala by former MD of PMC, Joy Thomas, to a person called Mehta. The Enforcement Directorate (ED) has identified about 2,112 acres of land owned by HDIL worth over Rs 3,000 crore and about 89 unencumbered properties of HDIL in and around Mumbai. The EOW SIT has also found a property in the name of PMC chairman Wariyam Singh’s son valued around Rs 2,500 cr.

Withdrawal limit hiked

In a relief to customers, RBI on Monday enhanced withdrawal limit to R40,000 per account for six months.

Joy Thomas's second wife summoned by EOW

The EOW has summoned Joy Thomas’s second wife Yasmin Khan, whom he married after converting to Islam, and changing his name to Junaid Khan. mid-day was the first to report this.

"We saw some illegality in the purchase of a property in the name of Junaid and Yasmin Khan. We have summoned her to record her statement and verify the documents," an officer said. Joy allegedly bought properties in the name of Junaid and Yasmin Khan in Pune. A source said Joy got a monthly package of Rs 3 lakh from PMC Bank, but the properties found in his name are worth more than Rs 20 crore.

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