EOW arrests 23rd accused in Rs 2.26 crores loan fraud case
Bhubaneswar: The Economic Offences Wing (EOW) of the Crime Branch on Thursday arrested a 51-year-old man in connection with a loan fraud to the tune of Rs 2.26 crores.
The accused was identified as Sarbeswar Sahoo of Ainpur under Brahmagiri police limits in Puri district. He was produced before the court of the sub-divisional judicial magistrate (SDJM) in Cuttack on Thursday.
According to sources, a case was registered against Sahoo following the complaint of Pranab Kumar Ray, senior manager, Allahabad Bank, Nayasarak Branch, Cuttack for fraudulently availing loans to the tune of Rs 2.26 crores.
Sahoo had availed the loans in the names of 85 loanees under “Scrota Loan” scheme from Nayasarak Branch of Allahabad Bank between December 2009 and March 2010. The accused had availed the loans by producing forged documents in collusion with Rabindra Kumar Jena, establishment officer in the office of the chief engineer of drainage division, Gandarpur, Cuttack.
The investigation revealed that accused Sahoo had availed Rs 3 lakh by impersonating himself as the junior engineer (civil) in the office of the Chief Engineer, Drainage Division, Gandarpur, Cuttack.
Earlier, 22 accused were arrested in connection with the fraud, out of whom, 20 were released on bail as per the orders of the Orissa High Court.
Meanwhile, the judicial magistrate first class court in Cuttack has convicted accused Rabindra Kumar Jena after completion of the trial against him. The trial in respect of other accused persons is sub judice. The investigation is in progress, the EOW said.