CBI Registers Case Against 53 Persons For Rs 24.17 Cr Loan Fraud
Bhubaneswar: Central Bureau of Investigation (CBI) has registered three cases against the then Chief Manager and two other officials of Union Bank of India (Nayapalli branch), six builders and 44 borrowers in connection with a bank fraud case.
The investigating agency has registered cases against UBI’s the then Chief Manager Bhubaneswar Mohapatra, then assistant manager Aswini Kumar Patra and the then bank manager Rajesh Kumar Patanga.
CBI officials said that the fraud worth Rs 24.17 crore took place in the year 2017. The loan was allegedly disbursed to the loanees and instead of constructing houses, the borrower builders allegedly diverted the loan amount for vested interests.
“The accused persons entered into a criminal conspiracy and submitted false documents. Later those were passed by the accused bank officials without any verification in violation of bank guidelines,” said a CBI official.