Paralakhemundi (Gajapati): Paralakhemundi police have successfully cracked a major bank loan fraud and have arrested 11 persons in this connection.
Those arrested by the police include 10 out of 11 loanees who have availed loans from the Paralakhemundi branch of Bank of India amounting to Rs 40.75 lakh by depositing fake gold. The gold appraiser appointed by the bank has also been arrested by the police. One of the loanees is still on the run.
According to the police, Manoj Kumar Palka, Branch Manager of Bank of India, Paralakhemundi branch had lodged an FIR at the Paralakhemundi police station on May 5, this year. Palka had alleged that 11 persons had taken 21 gold loans amounting to a total of Rs 40.75 lakh from his bank by depositing fake gold.
Accordingly, Paralakhemundi police registered a case and launched an investigation.
“During verification, the bank found that the gold appraiser appointed by them by obtaining some commission from the loanees had certified the fake gold to be genuine on the basis of which the bank had sanctioned loans to the tune of Rs 40.75 lakh. Upon verification by another gold appraiser, the bank found that the gold deposited by the loanees was fake. An investigation was underway and we have arrested 10 loanees and the gold appraiser J Venkat Brahman. They will be forwarded to court today. One more loanee is on the run,” informed IIC, Paralakhemundi, Babuli Nayak briefing reporters here today.
