Two ex-bank staff arrested for loan fraud of 1.96 crore in Odisha | Bhubaneswar News timesofindia.indiatimes.com

timesofindia.indiatimes.com

BHUBANESWAR: The economic offences wing (EOW) of the Crime Branch here on Wednesday arrested two former employees of the Syndicate Bank‘s Burla branch in Sambalpur district for alleged loan fraud of Rs 1.96 crore. Subash Chandra Das was the branch manager and Marianus Lakra was the assistant manager when they allegedly disbursed agriculture loan to 196 fake beneficiaries by submitting forged documents.
The fraud took place between 2014 and 2016.
The EOW registered a cheating case against Das and Lakra on the basis of a complaint lodged by the Syndicate Bank’s regional manager in Bhubaneswar, Chandrakant Dasmohapatra, on November 6.
During investigation, the probe agency found that Lakra did most of the groundwork after Das gave him the idea of defrauding the bank through Syndicate Kisan Card Scheme (SKCS), a loan facility for farmers. “Our investigation revealed that the two accused persons forged documents and disbursed loan of Rs one lakh each in favour of 196 beneficiaries under SKCS. None of the beneficiaries was genuine,” EOW’s superintendent of police, Awinash Kumar, said. The EOW said the accused got hold of fake documents of beneficiaries, most of whom had died years ago. The probe agency said Das and Lakra executed the fraud in phases between 2014 and 2016.
Initially, they paid the EMIs on behalf of bogus borrowers, but stopped it after some months. To avoid raising suspicion, the accused told the bank that the beneficiaries had fled their villages and were untraceable.
But during internal verification, the bank’s vigilance team found that the documents submitted for the disbursement of loan were forged.





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