India, March 23 -- The Economic Offences Wing (EOW) has arrested a man from Jharkhand, identified as Rajeev Ranjan Pandey, 45, in the New India Cooperative Bank money siphoning case. This is the eight arrest in the case. The police said Pandey was a beneficiary and had received around Rs.15 crore from the Rs.122 crore that was siphoned from the bank.

"We picked him up him from Bokaro. Pandey's role had emerged in the interrogation of an accused in the case, Unnathan Arunachalam," said a senior police officer from EOW.

Unnanathan, a businessman dealing with solar panel, had received around Rs.50 crore from the crime proceedings from the main accused, the GM, accounts, of the bank, Hitesh Mehta.

"Unnanathan paid around Rs.15 crore to Pan...