Bhubaneswar: The Economic Offences Wing (EOW) arrested a man Monday from Joranda area of Dhenkanal in connection with a case of bank fraud to the tune of Rs 1.18 crore.
The accused identified as Brahmanand Barik was forwarded to the SDJM Court, Cuttack Sadar in the morning.
According a press note issued by the EOW, the case was registered based on an FIR lodged by Sukanta Kumar Tripathy, Regional Manager of Odisha Gramya Bank in Cuttack. The case was registered concerning fraudulent sanction and disbursement of personal loans causing wrongful loss to the bank to the tune of Rs 1.18 crore.
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Subsequent investigation revealed that during the FY 2008-09, pursuant to a conspiracy hatched amongst the erstwhile branch manager and loanees, an amount of Rs. 38.49 lakh was sanctioned and disbursed to at least 20 loanees on the basis of fake and forged documents like salary certificates, DDO undertakings, etc. of the office of Executive Engineer, R&B Division Cuttack, the press note read.
The accused branch manager of Kalinga Gramya Bank, Bidanasi Branch, Cuttack namely Amiya Das and twelve other loanees have already been arrested in connection with this case. As a prima facie case is well made out, Brahmananda Barik was arrested.
Investigation pertaining to the case is underway, an official said.
PNN
