Bhubaneswar, July 29: Economic Offences Wing (EOW) Bhubaneswar has arrested one Swayam Prakash Parida, a former Branch Manager of the Central Bank of India Pallaspalli Branch, Bhubaneswar, on Friday from Cuttack in a loan fraud case of Rs 1.09 crore.
EOW sources here on Saturday said Parida was arrested U/s 420/467/468/ 471/120-B IPC. The accused would be produced before the SDJM, Bhubaneswar, on July 29, 2023.
He has been absconding for a long time. He has already been dismissed from the service.
The case has been registered on the written allegation of Ajaya Kumar Khuntia, BM, Central Bank of India, Palaspalli Branch, Bhubaneswar.
Khuntia alleged that during 2015–17, Maitreya Mishra and others fraudulently managed to open several Bank accounts in the names of M/s Shree Bharat Motors, M/s City Motors, M/s Aditya Motors, M/s Utkal Automobiles, and M/s Rajpath K.T.M., Bhubaneswar, in different Banks like Syndicate Bank, Odisha Gramya Bank, Axis Bank, UCO Bank and Central Bank of India by using fake and forged documents.
They got the sanctioned loan amounts credited to the accounts opened with different banks and misappropriated them.
The arrested accused, Parida, was working as Branch Manager, Central Bank of India, Pallaspalli Branch, from May 2015 to November 2017. During his incumbency, he has sanctioned 24 vehicle loans and one CC loan, with the amount varying from Rs 2 lakhs to Rs 9.75 lakhs under the ‘Cent Vehicle Schemes’ in the names of different persons based on the forged KYC and loan documents.
Parida, in conspiracy with Maitreya Mishra, who was earlier arrested in this case, sanctioned the loans in the names of different persons, including the fake ones, and diverted the loan amount to different accounts opened by Maitreya Mishra in the names of reputed vehicle dealers.
The loan amounts sanctioned fraudulently in the names of different persons, with or without their knowledge, to purchase vehicles were ultimately transferred to the accounts opened by Maitreya Mishra by using the fake KYC and ROC documents in the names of some of the reputed vehicle dealers.
Later, the loan amounts were misappropriated by both Maitreya Mishra and Swayam Prakash Parida, among others.
An amount of Rs 1.09 Crore in respect of the 24 vehicle loans and one CC loan has been sanctioned or disbursed illegally, and the amount was misappropriated by the above-mentioned accused persons.
The loans were sanctioned for the purchase of the vehicles, but fake insurance certificates, cover notes, and payment receipts in respect of the vehicles were submitted without the purchase of any vehicle.
Even so, there was no hypothecation of the vehicles to the lender’s bank. The bank could not recover the loan amounts in the absence of any co-lateral security and suffered heavy losses.
The investigation of the case is on.
