<p>The <strong><a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/mumbai-polices-eow-begins-investigation-new-india-cooperative-bank-irregularities-23483799" target="_blank" rel="none noopener">Economic Offences Wing EOW)</a></strong><strong>&nbsp;</strong>of the Mumbai Police on Friday made third arrest in the New India Cooperative Bank scam case, the officials said.</p>
<p>The EOW arrested Abhimanyu Bhoan, former CEO of New India Cooperative Bank, in connection with the case.</p>
<p>Bhoan, who served as CEO until December 2024, had allegedly received Rs 1 crore from co-accused, Hitesh Mehta, said an official.</p>
<p>All three accused were produced before a Mumbai court, which extended their custody till February 28, said the official.</p>
<p>Hitesh Mehta, the former general manager of New India Cooperative Bank and head of accounts, along with real estate developer Dharmesh Paun, were earlier arrested in the case.</p>
<p>A court had remanded them in police custody until February 21.</p>
<p>The case was registered on the complaint of Devarshi Ghosh, the bank's acting chief executive officer, at Dadar Police Station on Friday. The investigation was transferred to the Economic Offences Wing of Mumbai Police and Mehta was arrested for the alleged embezzlement of Rs 122 crore from the Prabhadevi and Goregaon branches of New India Cooperative Bank.</p>
<p>The police said that owing to a shortage of funds in the safe, the Reserve Bank of India (RBI) officials held a meeting with bank employees, during which Mehta stated that he was the custodian of the funds and would return the money.</p>
<p>Former New India Cooperative Bank General Manager (GM) Hitesh Mehta was arrested by the EOW last week on Saturday, the officials had earlier said.</p>
<p>Mehta was initially detained by the police following a raid at his residence in Dahisar area of Mumbai, an official said.</p>
<p>He was brought to the office of the EOW in south Mumbai for further questioning in the matter, sources said, adding that his arrest was followed by detailed interrogations.</p>
<p>The EOW had last week launched an investigation into the alleged 'irregularities' at New India Cooperative Bank, official sources said.</p>
<p><a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/new-india-co-operative-bank-scam-could-rbi-have-stopped-the-rs-122-crore-fraud-23486176" target="_blank" rel="none noopener"><strong>Mumbai Police</strong></a> had registered a case against Hitesh Mehta for allegedly siphoning Rs 122 crore from its treasury, the case was later transferred to the EOW which has been probing the matter further, the police said.</p><p>
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The Economic Offences Wing (EOW) of the Mumbai Police on Friday made third arrest in the New India Cooperative Bank scam case, the police officials said

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