EOW arrests two Odisha bank officials for agriculture loan fraud

Bhubaneswar: The Economic Offences Wing of Odisha Crime Branch today arrested two bank officials of Syndicate Bank on charges of disbursing Rs 1.96 crore agriculture loans on basis of forged documents.

The arrested persons, Subash Chandra Dash, ex Branch Manager and Marianus Lakra, ex Assistant Manager of Syndicate Bank, Burla Branch have been forwarded to the SDJM Sadar court, Sambalpur.

According to a written complaint lodged by Syndicate Bank’s Regional Manager Chandrakanta Dasmohapatra, Dash and Lakra, the then Branch Manager and Assistant Manager respectively from 2014 to 2016, sanctioned 196 Agriculture loans under Syndicate Kisan Card Scheme of Rs 1 lakh each to fictitious persons.

Investigation also revealed that Dash and Lakra entered in to criminal conspiracy with others. They sanctioned and disbursed Rs 1.96 crore agriculture loans on basis of fake and forged documents submitted with the loan application forms violating the terms and condition of Agriculture Loans.

As per the modus operandi, Dash as Branch Manager had sanctioned and disbursed the above loans, whereas Lakra had recommended for sanctioning of these loans. In some instances loan amounts have been disbursed to dead persons and in some cases the photographs of loanees affixed in the loan applications are not tallied with the photographs of the persons, in whose names loan amounts have been disbursed.

Later the above loans became non-performing assets causing wrongful loss to the bank.

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