Odisha bank managers arrested for disbursing fake loans

Reported by Santosh Jagdev

Bhubaneswar,  Dec 27:

The Economic Offences Wing (EOW) of Odisha Crime Branch (CB) today arrested a deputy bank manager, chief manager, and former manager of State Bank of India (SBI) for disbursing loans to fictitious people, causing a scam of more than Rs 67 lakhs in the process.

The accused were identified as Purandar Kabi of Mahulpal in Dhenkanal district, at present serving as Deputy Manager in SBI Local Head Office here, Manindra Mohan Kar of Cuttack, now posted as chief manager in SBI, Nawarangpur and Surendra Kumar Dhal of Jajpur, ex manager of SBI, Malgodown, Cuttack.

The EOW has slapped charges under sections 409, 420, 468, 471 and 120 (B) of IPC against the accused.

Sanjay Kumar, CB DIG said during investigation, it was revealed that 39 persons had fraudulently availed loan from SBI, Malgodown branch, Cuttack amounting to more than Rs 67 lakh in the year 2006 producing forged documents.

On the report of SBI authorities following a vigilance enquiry, a case was registered in December 1, 2011 at EOW here.

The DIG further said 39 loanees availed Suvidha Loan Scheme in the fake name of ‘Orphanage and special school’, Nuapada,  Cuttack. During investigation,  it was revealed that no such school ever existed.

The money was swindled in the full knowledge of and with active copperation of bank officials. No Know Your Customer (KYC)  norms were verified by the bank officials. In fact, the available voter ID card, service particulars, addresses of loanees were found false, the DIG said, adding, the accused bank officials submitted false, forged and fabricated reports and facilitated sanction and disbursement of loan to the fake persons causing wrongful loss to the bank and making wrongful gain to the accused.

“Investigation is on. More persons would be arrested if found guilty during the investigation,” the DIG said.