Odisha: EOW arrests two former bank officials in bank fraud case

Bhubaneswar, Dec 8 : Two former bank officials of Central Bank of India have been arrested by the Economic Offenses Wing (EOW) in a bank fraud case of Rs 3.33 crore.
EOW sources here on Friday said Dambarudhar Nayak and Devidutta Panigrahy, the Ex-Branch Manager and Ex-Agricultural Finance Officer of the Central Bank of India, were arrested from Keonjhar and Bhubaneswar, respectively, on Thursday under 409/420/467/468/471/120-B IPC, r/w Sec.66(D) of IT Act.
They will be produced before the Special Court for EOW, Cuttack.
A case was registered on the allegation of Anadi Biswas, Regional Head, Central Bank of India, Regional Office, Bhubaneswar, against the two accused officers for unauthorized sanction and fraudulent transactions in respect of 68 Central Kisan Credit Cards (CKCC) and 24 numbers of term loan accounts, apart from illegal diversion of government subsidy, causing a loss of Rs 3,33 crore to the bank.
EOW sources said both the arrested accused, during their incumbency at the Bhadreswar Branch of the Central Bank of India, have illegally sanctioned Rs 85,49,941 in 68 CKCC accounts, Rs 1,49,18,103 in 24 Term Loan accounts, Rs 15,60,000 of subsidy amount to eight borrowers of the Prime Minister Employment Generation Programme (PMEGP) scheme, and Rs 83,24,558.03 towards 114 irregular transactions in the bank’s profit and loss accounts.
They have sanctioned the loan in the name of different persons or borrowers, regardless of their eligibility, and also without the knowledge and consent of the borrowers. The two officers deliberately created and used the forged documents to sanction the loans and misappropriate all the loan amounts.
While the arrested accused, Dambarudhar Nayak, has already been dismissed from service by the bank, disciplinary action has been initiated against Devidutta Panigrahi.
The investigation into the case is on.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button