Loan fraud: Odisha court awards 14-year jail term each to five accused

Baripada: The Chief Judicial Magistrate Court, Baripada today awarded 14 years of imprisonment each to five accused in a Rs 1.31-crore bank loan fraud case after convicting them.

The court also imposed a fine of Rs 27 lakh each on the five accused.

After completing its investigation into the loan fraud case at Bank of India, SIPS Campus (Jharpokharia), the Economic Offences Wing (EOW) submitted the charge sheet against Bangali Charan Jena; Girija Shankar Mishra, Ex- Branch Manager, Bank of India, SIPS Campus (Jharpokharia); Susanta Kumar Jena; Satarupa Mohanty, Ex-Second Officer, Bank of India and Satyananada Patra.

The charge sheet was filed in the SDJM, Baripada court against the five accused under Section 167/467/468/471/472/420/406/409/120-B of IPC.

Based on a complaint filed by Sitakanta Mohanty, Branch Manager of Bank of India, SIPS Campus (Jharpokharia), the EOW registered a case against the accused persons in November 2014.

During the course of investigation it is ascertained that Girija Shankar Mishra, the then Manager of Bank of India, SIPS Campus (Jharpokharia), hatched a conspiracy with other accused and granted 131 fake bank loans of Rs 1 lakh each, amounting to Rs 1.31 crore during the period May 8, 2012 to March 26, 2013.