EOW Arrests SBI’s Phulbani Branch Deputy Manager for Misappropriating Rs 8 Crore
The Economic Offences Wing (EOW) of the Odisha Crime Branch has arrested a deputy manager of the State Bank of India (SBI)’s Phulbani for allegedly cheating and misappropriating Rs 8 crore.
The accused has been identified as Asutosh Acharya. The bank official was arrested on April 5 from Cuttack in EOW PS Case No.14 dated 03.04.2023 U/s 409/420/467/468/471/120-B IPC, r/w Sec.66 (C) of the IT Act.
Senior EOW officials said that Acharya had recommended and processed 59 Xpress Credit Loans meant for the salaried person and 26 pension loans meant for the pensioners to the non-salaried persons and non-pensioners. Acharya had allegedly misappropriated the loan amount of Rs 8,01,87,000 by transferring the same to the account of his family members, relatives and others.
During the period from September 2021 to September 2022, the accused in his capacity as deputy manager-cum-field officer, SBI, Phulbani branch, in conspiracy with others fraudulently recommended and processed 59 Xpress Credit Loans of Rs 6,77,30,000 meant for the salaried persons to the non-salaried persons. Similarly, 26 Pension Loans amounting to Rs.99,82,795 meant for the pensioners were illegally processed and recommended by the accused in favour of the non-pensioners, including his father, mother and father-in-law (dead).
The loans were sanctioned on the basis of the recommendations of the accused on the basis of manufacture and use of forged documents like salary slips etc. The sanctioned amounts were being landed in the SB accounts of the borrowers beyond their knowledge, and the amounts were further being diverted to different accounts including those of the family members and relatives of the accused amongst others. The loan amounts were being misappropriated by the accused, who allegedly put the same in illegal money circulation.
The EOW said that the accused is highly ambitious and was trying to make easy money by investing the loan amount in some other profitable business. The accused will be produced before SDJM Court, Phulbani, reports added.
