Mumbai, Feb. 16 -- A Mumbai Court has sent New India Cooperative Bank scam accused Hitesh Mehta and Dharmesh Paun to Police custody till 21 February. The pair was presented before a holiday court in Mumbai today following their arrests by the Economic Offences Wing (EOW) of the Mumbai Police.

Hitesh Mehta, the former general manager of the bank, is accused of orchestrating a scheme that allegedly embezzled Rs.122 crore from customer accounts while overseeing operations at the Dadar and Goregaon branches. The fraud reportedly began shortly after the COVID-19 pandemic emerged, with Rs.112 crore misappropriated from the Prabhadevi branch and Rs.10 crore from Goregaon.

The case stems from a complaint lodged by Devarshi Ghosh, the acting chi...