EOW Arrests Two Bank Officials For Embezzling Rs 1.15 Crore

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Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Crime Branch on Saturday arrested two bank officials in connection with embezzling Rs 1.15 crore during 2015-16.

The arrested duo has been identified as Sahadev Sahu, accountant & ex-bank in-charge of Kamakhyanagar branch, and Santanu Kumar Baral, ex-banking assistant, both of United Central Cooperative Bank Ltd in Angul.

The secretary of Angul UCC Bank, Bhakteswar Malik, had lodged a complaint alleging that Sahadev and Santanu along with others had misappropriated an amount of Rs.1.15 Crores by falsely posting and passing the amount in different SB accounts.

Based on the plaint EOW registered a case (7/19) under sections 409/467/468/471/477 (A)/120 (B) of the IPC and arrested the accused bank officials. The arrested duo has been forwarded to the Court of SDJM, Kamakhyanagar, the EOW informed today.

“Investigation so far revealed that the accused Sahadev Sahu, Ex-Accountant & Ex-Bank In-Charge of Kamakhyanagar Branch along with Santanu Kumar Baral, Ex-Bank Assistant and two other bank employees had misappropriated an amount of Rs.1,15,16,300/- during the period 2015-16 by crediting the same amount to different SB accounts, current account and CC accounts by manipulating the accounts and subsequently withdraw the same in cash,” the EOW said in a press note.

“These amounts were debited from different Head of General Ledger Account which is meant for paying interest. The account holders to which account the interests were credited were not eligible for that interest. The above-accused persons had withdrawn the credited amount by using their own. The above amounts were credited to 65 accounts in 187 transactions. The investigation of the present EOW case is underway,” the EOW added.

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