Baripada: Odisha Vigilance on Wednesday arrested two former employees of Mayurbhanj Central Cooperative Bank Ltd. in connection with a Rs 64.42 lakh financial fraud at the Bahalda branch.
The arrested have been identified as Dichen Kumar Mishra, Ex-Manager, and Malay Kumar Dutta, Ex-Bank Employee, both of MCCB Bahalda Branch.
According to Vigilance, an extensive investigation revealed that between 2019 and 2024, the accused officials along with three other co-accused bank staff fraudulently created fake Loan Against Term Deposit accounts against 24 genuine Fixed Deposits belonging to various customers.
The loans were taken without the knowledge or consent of the depositors, and the funds were subsequently siphoned off. The total misappropriation amounts to Rs 64,42,074.
In this connection, Balasore Vigilance Police Station registered a case under Section 13(2) read with 13(1)(a) of the Prevention of Corruption Amendment Act, 2018, and Sections 409 and 120-B of IPC.
Both arrested accused are being produced before the Court of the Special Judge, Vigilance, Baripada today. Vigilance officials said investigation into the role of other bank staff involved in the case is continuing.
