PMC bank scam: HDIL promoters Rakesh Wadhawan, Sarang Wadhawan arrested by Mumbai police
HDIL promoters Rakesh Wadhawan and Sarang Wadhawan have been arrested
On Thursday, the Economic Offence Wing (EOW) arrested both directors of HDIL, Rakesh and Sarang Wadhwan. Both the accused have appeared before the EOW as they were summoned by the agency. An FIR was registered against them on September 30, 2019.
According to EOW, both the accused were untraceable for the past 48 hours. The two accused appeared before the investigating agency, after questioning on some specific lines about the disbursement of heavy loan to the HDIL." The response from the accused was not satisfactory and hence both have been arrested and will be produced before the appropriate court tomorrow," said an officer.
Apart from the arrest, the EOW has also searched the residence of Wariyam Singh Chairmen of PMC bank, one DMAT account of Wariyam Singh worth Rs 100 crore was also frozen. Besides these, properties of HDIL worth Rs 3500 crore were also provisionally attached by the agency.
The investigating agency somewhere suspects that this property was mortgaged to PMC bank based on the documents seized from PMC headquarters. "We are also verifying if the same property was mortgaged to any other bank or not," the officer added.
According to sources, the preliminary probe indicates that some PMC employees have tampered with the PMC software, which is the reason why 44 accounts mentioned in the first information report did not reflect in the banking system. "We doubt that the employees of the bank were protecting these fraudulent accounts with some passwords, so it will not reflect in the system," the officer added further.
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