EOW arrests 5 persons including home guard and his wife in loan fraud of Rs 3.82 Crore
The Economic Offences Wing (EOW), Odisha arrested five people for their involvement in EOW PS Case No.04 dated.18.02.2025 U/s 419/420/467/468/471/120-B IPC.
Bhubaneswar: The Economic Offences Wing (EOW), Odisha has arrested a total of five persons including a home guard and his wife in a bank fraud they committed by impersonation of the real owner of a land cost Rs 3.82 crore.
The arrested accused persons have been identified as Dhananjay Prusty, Nirapada Karmakar, Surendra Kumar Beura, Niranjan Satpathy, who is working as a Home Guard in UPD Bhubaneswar and his wife Rinarani Satpathy.
They were arrested for their involvement in EOW PS Case No.04 dtd.18.02.2025 U/s 419/420/467/468/471/120-B IPC. They were produced before the Designated Court under OPID Act, Cuttack following their arrest.
The EOW registered the case on the written report of Bhabani Shankar Mohanty, the Regional Manager of SBI, Regional Office in Cuttack wherein it was alleged that Dhananjay Prusty and Surendra Kumar Beura formed a partnership firm namely M/s Maa Ganga Enterprise on December 3, 2022. Later, on September 20, 2023 both the partners resigned from the firm and transferred the partnership to Jonaki Karmakar and Sarat Chandra Swain.
After transfer of partnership, the new partners applied for credit facilities i.e Asset Backed Loan (ABL) of Rs 3.50 Crore from SME I.E, Branch of SBI, Madhupatna by fraudulently mortgaging the property vide Plot No. 1102, Khata No. 514/89, Mouza: Kesara, PS- Sahid Nagar No. 79, Dist: Khurda, Area: 0.880 dec. standing in the name of Sarat Chandra Swain.
As revealed during investigation made so far, the arrested accused persons namely Dhananjay Prusty, Nirapada Karmakar, Surendra Kumar Beura, Niranjan Satpathy and Rinarani Satpathy by entering into a conspiracy, changed the partnership of M/s Maa Ganga Enterprise from the name of Dhananjay Prusty and Surendra Kumar Beura to the name of Jonaki Karmakar and Sarat Chandra Swain (impersonator).
After that, the new partners pursuant to the conspiracy applied for one Asset Backed Loan of Rs 3.5 Cr. to SME I.E, Branch of SBI, Madhupatna by mortgaging Plot No. 1102, Khata No. 514/89, Mouza: Kesara, PS- Sahid Nagar No. 79, Dist: Khurda, Area: 0.880 dec. standing in the name of Sarat Chandra Swain.
In order to commit the fraud, the original owner Sarat Chandra Swain was impersonated by impersonator Sarat Chandra Swain and for the purpose the fake Aadhaar and PAN cards were manufactured in the name of impersonator Sarat Chandra Swain which are quite different from the Aadhaar and PAN of the original land owner Sarat Swain.
Thus, by impersonating the real land owner, the arrested accused persons managed to avail loan of Rs 3.5 Cr from the bank. The land documents were also forged and deposited in the bank as equitable mortgage.
The fraud came to the surface when the real land owner Sarat Chandra Swain sold his abovementioned land to one Pradeep Kumar Beuria and Birendra Kumar Mohanty, and the bank held up the sale proceeds of the real land owner.
The arrested accused Nirapada Karmakar, husband of Janoki Karmakar, Rinarani Satpathy, wife of Niranjan Satpathy and others masterminded the fraud and by entering into a conspiracy with the other accused persons managed to avail the loan from SBI in favour of Janoki Karmakar and impersonator Sarat Swain by depositing the forged title deeds of the above noted land. The loan amount was misappropriated by the arrested accused persons and also by their other associates involved in the fraud. The loan amount was diverted to the accounts of different firms held in the name of Dhananjay Prusty and Surendra Kumar Beura but controlled by accused Nirapada Karmakar. Besides, money has been diverted to the account of Niranjan Satpathy and as well as to others associated with the fraud.
During house search, many incriminating materials have been seized from the possession and house of the accused persons. During the search of the rented house of Niranjan Satpathy and Rinarani Satpathy at Canal Road, Chintamaniswar, Bhubaneswar, many incriminating materials like hard cash of Rs 51,100, different sale deeds, RoR, Aadhaar, PAN, ATM card, pass book etc. have been seized apart from Fake Indian Currency Notes of Rs 200, Rs 100, Rs 50 and Rs 10 denominations amounting to Rs 5290.
A report pertaining to the seizure of the FICN has been submitted to SP, STF for registration of a separate case. Interestingly, very few machines used in goldsmith workshop and purchased from the loan amount were also found in the rented house.
The investigation of the case is going on.
