Odisha CB arrests five for bank loan fraud

Swetaparna Published On : Sep 27, 2016 at 8:34 PM Updated On : Sep 27, 2016 at 9:26 PM

Odisha Sun Times Bureau
Bhubaneswar, Sep 27:

The Economic Offence Wing (EOW) of the Odisha Crime Branch (CB) today arrested five persons in connection with a loan fraud running into crores of rupees in Allahabad Bank.

Odisha man stabs brother-in-law to death over domestic violence

Odisha cops nab arms smuggling racket kingpin from Bihar; 3 guns seized

Out of the five accused arrested, four are retired government employees. However, 11 others have been arrested earlier in the case.

Notably, in 2012 the accused persons had managed to get loans sanctioned from the Nayasarak branch of Allahabad Bank to the tune of Rs 2.26 crore in the names of 85 persons using forged documents citing them as employees of the Drainage Division.

However, later on, scrutiny the EOW found that only six of the loanees were employees in the Drainage Division and documents produced against the remaining were forged.

arrested