Odisha EOW arrests former IDBI branch manager, woman aide in Rs 3.70 Crore bank fraud

Bhubaneswar: Economic Offences Wing (EOW) of Odisha Crime Branch today arrested a former branch manager of IDBI Bank and his female aide in a financial fraud of Rs 3.70 Crore. The arrested branch manager has been identified as Sarojkanta Mohapatra and the woman as Angel Mishra.

On March 6, the EOW claimed to have cracked the bank fraud and had arrested a man identified as Tanmay Kumar Maharana in this connection from Raipur of Chhattisgarh. Tanmay is presently working as an Assistant Manager of the IDBI Bank in Dandamukundapur branch in Pipili. He was an Asset Officer in the same branch when the crime was committed, an EOW official source expressed.

Tanmay was previously produced before JMFC Court in Raipur and was brought on the strength of a transit remand in the EOW PS Case No-03, dated 29.02.2024, U/s 409/420/467/468/471/120-B of the IPC. He was produced before the Designated Court in Cuttack under OPID Act, on March 7.

According to the official source, the case was registered on the allegation of Sandeep Pattnaik, General Manager of IDBI Bank in Bhubaneswar that Sarojkanta Mohapatra and Tanmay Maharana had illegally sanctioned 35 fictitious loans (majorly MUDRA loans) amounting to Rs 3.70 crore mostly in favour of their close relatives and acquaintances.

During a detailed probe, it was found that Government cash of Rs 3.7 crore was deposited in two bank accounts of BDO in Pipili maintained with the bank’s branch in Pipili.

In 2018, Pipili BDO had requested the bank for Fexi Fixed Deposit (FFD) of the above amount, and as per the advice of the erstwhile Branch Manager, the former BDO Pipili had issued seven numbers of ‘Yourself’ cheques for the purpose. It was also falsely intimated by the bank that the amount had been deposited in the Flexi Account, giving the details of the interest accrued thereupon.

When the BDO sought the details of the Flexi Account in 2022 and the statements of the account, the bank intimated that no such FFD has ever been booked or created from the accounts of the BDO in Pipili. After the matter was pursued with the bank, an internal investigation was conducted by the bank, in which it was ascertained that Rs 3.7 crore of the Block Office deposited with the bank was misappropriated by the then bank officials who diverted the amount for their wrongful gains.

Notably, the bank officials have been suspended from their service for such fraudulent conduct.