Cops plan polygraph test on New India bank scam main accused

The main reason for subjecting Mehta to a polygraph test is discrepancies over how he spent the stolen amount, said police

Mumbai: The Economic Offences Wing (EOW) of Mumbai Police will soon approach a court for permission to conduct a polygraph test on the main accused in the New India Cooperative Bank scam, Hitesh Mehta. Mehta, 57, allegedly siphoned off ₹122 crore from the cash vault in the bank’s Prabhadevi and Goregaon branches between 2020 and 2024, but has been evasive during interrogation about how and where he spent the money, said police.

Hitesh Mehta, 57, allegedly siphoned off ₹122 crore from the cash vault in the bank’s Prabhadevi and Goregaon branches between 2020 and 2024 (Hindustan Times)

A polygraph test, also known as lie-detector test, records physiological indicators such as blood pressure, pulse and respiration while a person is asked and answers a series of questions. Permissions to conduct the test are required from the court as well as the accused.

The main reason for subjecting Mehta to a polygraph test is discrepancies over how he spent the stolen amount, said police officers familiar with the probe. Following his arrest on Saturday, Mehta told the police that he had invested ₹70 crore in Kandivali-based developer Dharmesh Paun’s real estate business. Paun was then executing a slum rehabilitation project in Charkop and had not applied for any loan, Mehta claimed. But the developer told the police after he was arrested on Sunday that he had received only ₹12 crore from Mehta.

“We want to find out who is lying and whether Mehta gave money to Paun as a loan or for some kind of partnership. So we are thinking of approaching the court for permission to conduct a polygraph test,” a police officer told Hindustan Times.

The EOW has started recording the statements of bank employees who operated the safes, asking them if they had two locks and two keys. “We are also recording statements of and questioning auditors of the bank to understand why the scam did not come to their notice as the accused claimed that he had been taking away bank funds since the pandemic period,” said the officer.

New India Cooperative Bank was under the Reserve Bank of India’s (RBI) scanner since May 2021 as the central regulator had pointed out several illegal practices in its operations, said EOW sources. This was one of the reasons the RBI team carried out a sudden inspection at the bank’s headquarters on February 12, when the scam was unearthed, they said.

A look out circular has been issued against Unnathan Arunachalam alias Arun Bhai, 55, who runs a solar business and stays in Malad, said the officer quoted earlier. Mehta claims he gave ₹40 crore from the stolen money to Arun Bhai, who is on the run and has switched off his phone.

“We will know the truth once he is arrested,” said the officer.