Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police has arrested another person from Bhubaneswar for his alleged involvement in a bank loan fraud case worth Rs 6.88 crore, officials said.
Earlier, four accused were apprehended in connection with the case, and they are in judicial custody.
The latest arrest was made Wednesday from the state capital, the officials said, adding that he will be produced before a court in Cuttack, Thursday.
The action came on the basis of a complaint registered by the regional manager of a public sector bank in Bhubaneswar.
In the FIR, it was alleged that the accused persons availed 282 loans amounting to Rs 6.88 crore from various branches of the bank between May 2022 and November 2023 by producing fake employment records, the officials said.
Also Read : Three bank officials held for Rs 6.88 crore loan fraud
After availing the credit, the loanees allegedly stopped making EMI payments, and the loan accounts turned into NPAs (non-performing assets), they said.
The accused arrested Wednesday acted as a middleman in preparing these fake documents, the EOW officials said.
Further investigation into the case is under progress.
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