The Economic Offences Wing (EOW) on March 22 arrested a 47-year-old Jharkhand-based hotelier allegedly involved in the New India Co-operative Bank scam. According to the police, the individual, Rajivrajan Pandey alias Pavan Gupta, is the eighth accused in the fraud. He was brought on a transit remand from Jharkhand and was produced in the Esplanade court on Sunday. The accused was remanded in police custody till March 28.

On February 12, the EOW registered an FIR against the bank’s former general manager Hitesh Mehta for allegedly embezzling R122 crore from the Prabhadevi and Goregaon branches. The police have also arrested businessman Unnanathan Arunachalam, alias Arun Bhai, in connection with the case. “Arunachalam received R40 crore from the prime accused, Hitesh Mehta. Arunachalam then gave Rs 15 crore to Pandey, and hence we arrested him from Jharkhand,” an officer said.