Allahabad Bank loan fraud case: 5 more accused in EOW net
September 28, 2016 15:46 PM IST
Cuttack: Another five accused in the Allahabad Bank, Nayasadak branch in Cuttack, loan fraud case was nabbed by the Economic Offences Wing (EOW) of the State Crime Branch on Tuesday.
The five accused in the 2 crore 26 lakh and 58 thousand loan scam case were identified as retired government servant Sarat Behera, Anand Nayak, government servant Trilochan Rout, Paramananda Nayak and Dilip Nath. A case under section 419, 420, 467, 468, 471, 120 (B) and 34 has been registered against them.
Earlier 11 persons had been arrested in the case including former Senior Manager of the bank Akhil Ranjan Das and Establishment Officer (EO) of Cuttack Drainage Division, Rabindra Nayak.
It may be mentioned that the bank had disbursed loan in name of 85 employees of the Cuttack Drainage Division between December 2009 and February 2012, on request of the EO Rabindra Nayak. Rabindra had in a letter requested the bank authorities to provide loans to 85 employees.
As the bank was unable to get back returns from the disbursed amount, it conducted an inquiry and came to know that 78 of the applicants were not the employees of the drainage division.
The bank authorities let the Drainage Division know of the irregularity, as a result of which the Chief Engineer of the division suspended Rabindra. Senior Manager of the bank Pranab Ray contacted the Crime Branch on October 2012 for a thorough investigationof the case.
A case was registered with the Crime Branch and during investigation the Crime Branch on February 18, 2013 arrested six persons including the former manager Akhil. Later on November 22, in the same year, three others were nabbed and further two more were arrested by the Crime Branch. The Crime Branch is still investigating to arrest the other absconding persons who had availed the loan.