CBI arrests United Bank of India GM

Sambad English Bureau Published On : Dec 16, 2014 at 9:31 PM

Chennai, Dec 16:

The Central Bureau of Investigation (CBI) Tuesday arrested United Bank of India general manager Pranab Kumar Roy for fraudulent loan sanction.

In a statement issued here, the CBI said Roy as the general manager at the bank’s southern regional office, abused his official position to sanction a working capital loan of Rs.20 crore to Capture Systems for its ethanol turnkey project.

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The investigation agency alleged the transaction resulted in a loss of Rs.9.44 crore to the bank.

The agency also alleged that Roy was also involved in many other bank fraud cases in different places and same are being investigated by CBI branches at Chennai and Bengaluru.

“The amount of wrongful loss incurred to the bank in all these cases due to abuse of official position is Rs.93 crores,” the CBI said. (IANS)