Economic Offence Wing (EOW) of the Mumbai Police has arrested Ranjeet Singh in connection with PMC Bank scam on Saturday. Singh is the former Director of PMC Bank and son of former BJP MLA Tara Singh.
Earlier this week, two auditors were arrested in connection with the Rs 4,355-crore alleged Punjab and Maharashtra Cooperative (PMC) Bank scam by the Economic Offences Wing (EOW) of the Mumbai Police.
The arrested duo, Jayesh Sanghani and Ketan Lakdawala, had served as statutory auditors when the scam was committed and suspected to have played a key role in covering up the irregularities involving some top officials of the bank. The police so far arrested five persons, including promoters of the HDIL and top officials of the PMC Bank.
The bank has been put under restrictions by the RBI after an alleged fraud of Rs 4,355 crore scam came to light following which the deposit withdrawal was initially capped at Rs 1000, causing panic and distress among depositors.
(With inputs from agencies)