Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police on Wednesday arrested a former UCO Bank branch head for allegedly defrauding the bank of over Rs 3.25 crore by sanctioning loans using forged documents, officials said.
The accused, identified as Shiba Prasad Das, was arrested from Trisulia in Cuttack district in connection with a case registered on June 19 on the basis of a complaint lodged by the Deputy General Manager and Zonal Head of UCO Bank’s Cuttack zone.
According to the complaint, Das allegedly sanctioned and disbursed 22 car loans and two business loans amounting to Rs 3.25 crore by manipulating official records and fabricating documents while serving as branch head of the bank’s Old Secretariat Branch in Cuttack (2021-2024) and later at the Salepur Branch (2024-2025).
The investigation revealed that Das allegedly used forged vehicle quotations, tampered CIBIL records, fake registration certificates, KYC documents, salary slips, insurance papers and other fabricated records to process the loans. Several loans were also sanctioned for vehicles that had already been purchased by falsely projecting them as new, the EOW said.
Officials said the entire loan amount was directly credited to Das’s personal bank accounts. He also allegedly opened savings accounts in the names of certain borrowers without mandatory KYC documentation and deposited money into those accounts himself to create the appearance of regular loan repayments.
Of the 24 fraudulent loans, 16 worth Rs 1.86 crore were sanctioned during his tenure at the Salepur branch, while eight loans worth Rs 1.39 crore were approved during his posting at the Old Secretariat Branch, the EOW said.
Investigators have seized 24 loan files and several incriminating documents, including fake KYC papers, salary slips and vehicle quotations. Further investigation is underway, officials added.
