Odisha Crime Branch arrests private bank employee in connection with Rs 2.3 cr fraud

Cuttack: The Odisha Crime Branch has arrested an employee of a private bank in connection with Rs 2.3 cr fraud in the name of fixed deposits.

According to the Crime Branch, yesterday on the report of a senior citizen widow from Cuttack, the police registered a Case No. 58 dtd. 28.11.2024 U/s 409/419/420/467/468/471/120-B/34 IPC r/w Sec. 66/66-C/ 66-D of Information Technology Act, 2000 for commission of a fraud to the tune of Rs. 2.3 Crores.

The Complainant was having Saving, Current & OD Accounts in the Badambadi Branch of AXIS Bank, Cuttack. After her husband’s death, the Bank had assigned one Khirod Nayak, an employee of the Branch, as her Relationship Manager. Since she was not much aware of any of the banking investment processes, she was dependent on him. He regularly visited her residence (as a privileged account holder) and used her mobile phone to provide quarterly bank accounts statements.

On the repeated insistence of Khirod Nayak, she diverted the Saving accounts money to a Fixed Deposit to get more returns and for that purpose he obtained several signatures from her. She later came to know about an OD loan and transfer of the amount to one Sumitra Khuntia’s account only when she intimated by the loan department of the bank. On enquiry with the bank, she found around Rs. 2.3 Crores had been withdrawn from her FD Account and several transactions were made from her account to the account of a complete stranger, Sumitra Khuntia with HDFC Bank. Upon verification she also found that her registered mobile number has also been changed in between and she did not receive any OTP regarding the transactions also.

From the bank details and other documents collected during investigation, the Cyber Crime Unit of Crime Branch identified the prime accused and arrested Khirod Kumar Nayak (39), Samanta Sahi, Buxibazar, Cuttack, Relationship Manager of AXIS Bank.

During interrogation, it has been ascertained that the accused has been a bank employee for last 20 years and was working with AXIS bank since last six years. He developed good relationship with customers and gained their confidence in due course. Using the same, he has also opened some savings accounts to siphon off the cheated money.

Since the complainant in this case is a senior citizen widow and was staying alone, he used the opportunity to withdraw Rs. 2.3 Crores OD against the FD of 2.5 Crores. He took control of the access of account by changing the registered mobile number, which was seized from his possession. From the account of complainant, he transferred the amount to Sumitra Khuntia’s account in HDFC and then from there it was transferred to his other accounts. On verification, it has been ascertained that approximately Rs. 1 crore has been utilised by the accused for buying insurance policies in the name of people who are under his confidence.

Investigation is on regarding the rest of the amount and involvement of others. An amount of Rs. 20 lakhs has been frozen in one of his account with ICICI Bank. 32 ATM cards, 5 Passbooks, 37 Chequebooks, 2 Mobile phones, SIM cards, Laptop and Signed cheque of the complainant has been seized from the accused.

Investigation of the case is under progress.