New India Bank Fraud: Hiren Bhanu Accuses Hitesh Mehta of Rs 122 Crore Scam
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Synopsis
Hiren Bhanu, former vice chairman of New India Cooperative Bank, claims innocence and blames Hitesh Mehta for a Rs 122 crore fraud in a statement to Mumbai's EOW. Bhanu alleges Mehta confessed during an RBI visit and challenges claims of illegal payments.
Key Takeaways
- Hiren Bhanu denies involvement in the bank fraud.
- Mehta allegedly confessed during an official RBI visit.
- Bhanu claims he has evidence to support his statements.
- Concerns about the bank's oversight are raised.
- Mehta reportedly failed a lie detector test.
Mumbai, April 7 (NationPress) In a crucial twist in the New India Cooperative Bank fraud case, former vice chairman Hiren Bhanu has provided a statement to the Economic Offences Wing (EOW) of the Mumbai Police, where he asserts his innocence and blames the arrested senior officer Hitesh Mehta for the Rs 122 crore scam.
Bhanu, alongside his wife Gauri Bhanu, was labeled a proclaimed offender by a Mumbai court. He has made startling allegations about Mehta’s supposed confession. In his statement, Bhanu disclosed that Mehta acknowledged his involvement in the crime during a phone conversation when Reserve Bank of India (RBI) officials first visited the bank’s Prabhadevi headquarters in February.
Bhanu maintains that he has resided abroad for over 30 years and that his wife’s recent trip to Thailand was pre-planned, aiming to counter claims that they escaped the country to evade the scandal.
Detailing the day the fraud was uncovered, Bhanu recounted how Mehta, the bank’s most senior employee with 35 years of tenure, mysteriously vanished during the RBI inspection. According to Bhanu, Mehta later confessed to misappropriating funds over a five-year period. Bhanu claims he persuaded Mehta to return to the bank and confess to the authorities, offering call records as evidence for his account.
Observers of this scandal believe that Bhanu's statement raises serious questions about the bank's oversight, especially considering the RBI had overseen the institution for four years, including appointing a nominated director to the bank's audit committee.
Bhanu also indicated in his statement that routine audit reports failed to highlight any discrepancies in the bank's cash flow, leaving board members oblivious to the missing funds.
He further refuted allegations of receiving Rs 26 crore in illegal payments, insisting that his income sources are accurately documented in his tax returns.
Moreover, Bhanu revealed that Mehta allegedly funneled Rs 70 crore into a property in Dahisar and concealed funds with six other individuals.
This claim arises despite Mehta reportedly failing a lie detector test concerning these transactions. To date, eight arrests have been made in connection with this case.
