The Mumbai Police today arrested former CEO & Managing Director of the National Spot Exchange Ltd. (NSEL)Anjani Sinha in the 5600 crore Rs fraud.

Earlier, police had arrested Jay Bahukhundi and Amit Mukherjee in connection with the NSEL scam. According to police, the borrowers had been diverting funds to other businesses, including real estate, but neither Amit Mukherjee nor Jay Bahukhundi brought that to the management's notice. NSEL has alleged Amit Mukherjee received kickbacks from various companies, including Mohan India, one of the largest borrowers from the exchange.

The probe has also found some peculiar entries made on August 8 and 9 in the NSEL accounts related to its outstanding amounts, which is not matching with the books of accounts of the borrowers.