Case of fraud worth crores of rupees in Odisha Bank, 2 arrested
Bhubaneswar: Economic Offenses Wing, Bhubaneswar has arrested accused persons namely Dambrudhar Nayak and Devidutt Panigrahi in the Odisha Bank fraud case.
The arrested persons are former branch managers and former agricultural finance officers of the Central Bank of
India, Bhadreshwar Branch, Cuttack, from Keonjhar and Bhubaneswar respectively, dated 07.12.2023, EOW PS Case No. 27 dated 05.12.2023 u/s 409/420/467/468/471/120-B IPC, r/IT Act Section 66(d) of.
The arrested accused will be produced before the special court. Court for EOW, Cuttack. A case was registered against the arrested accused persons Dambrudhar Nayak and Devidutt Panigrahi on the allegations of Anadi Biswas, Regional Head, Central Bank of India, Regional Office, Bhubaneswar.
It is noteworthy that both the arrested persons were working as Branch Manager and Agricultural Finance Officer respectively in Central Bank of India, Bhadreshwar Branch, Cuttack for unauthorized sanction and fraudulent transactions during the period from 18.09.2015 to 11.11.2018. 68 Central Kisan Credit Cards (CKCC) and 24 term loan accounts besides illegal transfer of government funds. subsidy, causing a loss of Rs 3,33,52,602.03 to the bank.
Both the arrested accused, Dambrudhar Nayak and Devidutt Panigrahi, indulged in a conspiracy to illegally transfer Rs 85,49,941/-, Rs 1,49,18,103/- to 68 CKCC accounts during their tenure at Bhadreshwar branch of Central Bank of India. Approved/diverted. – In 24 term loan accounts, Rs 15,60,000/- of subsidy amount of 08 borrowers of Prime Minister Employment Generation Program (PMEGP) Scheme and Rs 83,24,558.03 for 114 irregular transactions in the profit and loss accounts of the bank.
It is noteworthy that the persons arrested in the Odisha Bank fraud case have sanctioned loans in the names of various persons/borrowers, without regard to their eligibility and without the knowledge and consent of the borrowers. Furthermore, they have fraudulently increased the loan limits beyond the knowledge of the borrowers.
They knowingly created and used forged documents to get the loan sanctioned. The accused have misused the entire loan amount. The arrested accused Dambrudhar Nayak has already been dismissed by the bank while disciplinary action has been initiated against him.
Accused Devidutt Panigrahi.
During the investigation, many incriminating documents including loan documents have been seized. The inspection of the matter is going on.
