Mumbai: The Economic Offences Wing (EOW), investigating the ₹122 crore scam at New India Cooperative Bank, hasBh intensified its crackdown on wanted accused Hiren Bhanu and Gauri Bhanu, who are considered the masterminds behind the scam. According to senior EOW officials, the agency has seized properties worth ₹28 crore belonging to the Bhanu couple under Section 106 of BNS.

Seized Properties Across Maharashtra and Gujarat:
The seized properties include 5 acres of land in Lonavala, a flat in Shyam Nivas building on Nepean sea Road, Mumbai, and properties in Gujarat. EOW’s investigation revealed that the Bhanu couple purchased these properties using ₹28 crore from the embezzled ₹122 crore. The couple and their family have fled abroad, and EOW has issued a Blue Corner notice against them to aid in their extradition.

Meanwhile, Javed Azam (47), the younger brother of BJP leader Hyder Azam, who was arrested on Monday night, has made significant disclosures during questioning. According to EOW sources, Javed provided shelter to co-accused Unnathan Arunachalam in his ancestral village in Bihar when Arunachalam was on the run.

Helped Arunachalam Hide in Bihar:
EOW’s investigation revealed that before fleeing Mumbai, Arunachalam contacted Javed multiple times. Following their conversations, Javed helped hide Arunachalam in Bihar and later facilitated his movement to Gujarat, Rajasthan, and Andhra Pradesh.

EOW officials also discovered that in 2019, Arunachalam handed over ₹18 crore (out of the ₹40 crore he received from Hitesh Mehta) to Javed Azam. Using ₹15 crore from this amount, Javed purchased multiple properties, the details of which are still being traced. During questioning, Javed provided evasive answers, making it difficult for investigators to track down all the assets.

Javed and Arunachalam in Police Custody Until March 24:
On Tuesday, Javed Azam and Arunachalam were produced before the Esplanade Court. EOW sought seven days of police custody for further interrogation, citing the need to confront the accused with substantial evidence. The defense opposed the plea, but the court remanded both accused to police custody until March 24.

EOW plans to confront all the arrested accused face-to-face to cross-verify their statements. The agency aims to determine how the ₹122 crore was distributed and laundered by questioning them collectively, as their individual statements have been inconsistent. Since five accused are in judicial custody, EOW will seek their police remand for joint interrogation.

Javed Azam Fled to Dubai:
EOW sources revealed that Javed fled to Dubai after realizing he was about to be arrested. However, EOW managed to lure him back to Mumbai and arrested him based on the evidence they had gathered.