Odisha EOW arrests ex-branch manager, ex-finance officer of Central Bank in Rs 3.3 cr fraud case
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As IT Dept raids in Liquor mafia case of Sahu family is gathering steam in Odisha, another case of fraud has been uncovered.
In a recent case of bank fraud, the Economic Offences Wing (EOW) in Bhubaneswar has made a breakthrough by apprehending two former Central Bank of India officers.
The branch manager of Central Bank of India in Bhadreswar branch, Dambarudhar Nayak, and the ex-agricultural finance officer, Devidutta Panigrahy, were both taken into custody on December 7th from Keonjhar and Bhubaneswar, respectively.
According to EOW officials, the accused were identified as Nayak and Panigrahy, who had been employed at the bank from September 18th, 2015 to November 11th, 2018. The arrest was made in response to a complaint filed by Anadi Biswas, the Regional Head of Central Bank of India in Bhubaneswar.
The complaint stated that the former bank officials had engaged in unauthorized activities, including fraudulent transactions involving 68 Central Kisan Credit Cards (CKCC) and 24 Term Loan accounts.
They were also accused of illegally diverting government subsidy, resulting in a loss of Rs. 3,33,52,602.03 to the bank. This serious offense has caused great concern and the EOW is taking swift action to bring justice to the bank and its customers.
According to the Economic Offences Wing (EOW), it has been revealed that the duo had unlawfully approved and transferred a sum of Rs 85,49,941 in 68 accounts under the Central Kisan Credit Card (CKCC) scheme, Rs 1,49,18,103 in 24 accounts under the Term Loan scheme, and Rs 15,60,000 in subsidy funds meant for eight beneficiaries of the Prime Minister Employment Generation Programme (PMEGP). In addition, an amount of Rs 83,24,558.03 was found to have been misused in 114 transactions in the bank's profit and loss accounts.
As per the EOW, the accused individuals approved loans in the names of various individuals without considering their eligibility, and without their knowledge or consent. Furthermore, they fraudulently increased the loan amounts without informing the borrowers. The EOW also stated that the accused deliberately created and used fake documents to approve these loans.
It has been reported that Dambarudhar Nayak has already been dismissed from the bank, while disciplinary action is being taken against Devidutta Panigrahi, according to sources.
As per the EOW, the accused individuals approved loans in the names of various individuals without considering their eligibility, and without their knowledge or consent. Furthermore, they fraudulently increased the loan amounts without informing the borrowers. The EOW also stated that the accused deliberately created and used fake documents to approve these loans.
It has been reported that Dambarudhar Nayak has already been dismissed from the bank, while disciplinary action is being taken against Devidutta Panigrahi, according to sources.
