EOW Arrests Son of Fugitive Businessman in Coop Bank Fraud Case

As per an official's report on Friday, the Mumbai police EOW has detained a businessman’s son in relation to a case involving the New India Cooperative Bank's fraud dealings of ₹122 crores. 

The official stated that an arrest was made on supporting evidence dated for July 24, with the accused being 33 year old Manohar Arunachalam, son of Unnathan Arunchalam a.k.a Arun Bhai. 

This is the fourth arrest in the case so far. 

The EOW had earlier captured three individuals which included Hitesh Mehta, the general manager of the bank, along with real estate entrepreneur Dharmesh Paun. 

According to the official, Manohar is said to have been in contact with the father son duo when it came time to assist them in fleeing the police. For the past few days EOW has been on a manhunt for Unnathan which led to a notice being put out for him. 

Later today he will be brought in front of an authority to be questioned further. 

According to the EOW, while operating under the New India Cooperative Bank, Mehta is alleged to have provided funds of up to ₹50 crores to Arun Bhai, who primarily works in the solar panel field. 

Out of the funds provided, it is thought that Arunachalam made two private trusts, spending a total of ₹33 crores out of the ₹50 crores given to him.