Bhubaneswar: The Economic Offences Wing (EOW), Bhubaneswar, has arrested two persons from Bhubaneswar and Keonjhar on Thursday in connection with an Rs 3.33 crore bank fraud.
The accused have been identified as Dambarudhar Nayak, a former branch manager, and Devidutta Panigrahy, a former agricultural finance officer, of the Bhadreswar Branch of Central Bank in Cuttack.
According to the EOW, Nayak and Panigrahy were arrested based on a complaint lodged by Anadi Biswas, Regional Head of Central Bank of India, Regional Office, Bhubaneswar, alleging unauthorised sanction and fraudulent transactions in Central Kisan Credit Cards (CKCC) and term loan accounts from the illegal diversion of government subsidy, resulting in a loss of Rs 3,33,52,602 to the bank.
While Nayak has already been dismissed by the bank, disciplinary action has been initiated against Panigrahi.
“The accused sanctioned loans in the names of different persons/borrowers irrespective of their eligibility and also without the knowledge and consent of the borrowers. Moreover, they also raised the limit of the loans fraudulently without the knowledge of the borrowers. They deliberately created and used the forged documents to sanction the loans and misappropriated all the money,” the EOW said
The accused will be produced before the Special Judge OPID Court in Cuttack on Friday.
