PMC Bank Chairman arrested
The absconding Chairman of the crisis-hit Punjab & Maharashtra Cooperative (PMC) Bank Ltd, S. Waryam Singh, has been nabbed by the Economic Offences Wing of Mumbai Police, an official said here on Saturday.
Waryam Singh, 68, who was missing since the irregularities in the PMC Bank tumbled out two weeks ago, was traced to a location in Mahim where he was in hiding, a Mumbai Police spokesperson said.
The police said that he will be interrogated for his prima facie involvement in the alleged Rs 4,335 crore fraud case concerning the Housing Development & Infrastructure Ltd (HDIL).
Earlier on Saturday afternoon, Waryam Singh wrote a letter to the police stating that he planned to surrender before the EOW by the evening, but he was flushed out of his hiding place and nabbed.
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