Mumbai: ₹122 Crore Fraud Case—FIR Against New India Cooperative Bank GM

Mumbai: The Dadar police have registered an FIR against Hitesh Mehta, General Manager of New India Cooperative Bank, for allegedly embezzling ₹122 crore from customer accounts. The case has now been handed over to the Economic Offences Wing (EOW) for investigation.

The FIR was filed on February 15 after a complaint from Devashri Gosh (48), a resident of Worli. Mehta and his associates are accused of misusing funds deposited at the bank’s Prabhadevi and Goregaon branches. They have been booked under sections related to criminal breach of trust and conspiracy under the Bharatiya Nyaya Sanhita.

Authorities believe the scam may involve more people, and investigators are now examining bank records to trace the missing money. Many affected customers are demanding strict action against those responsible.

This case raises concerns about banking fraud in cooperative banks, with experts calling for better regulation to protect customer deposits.