EOW Arrests Loanee For Bank Fraud

Bhubaneswar: The Economic Offence Wing (EOW) of Crime Branch today arrested one Budhimanta Sahu (47) in connection with bank fraud in Dhenkanal district.

Police said that the accused had availed loan of Rs 3 lakh from Urban Cooperative Bank Ltd, Dhenkanal in 2001 on the basis of forged documents.

“The then president of the bank Sukanta Kumar Mishra and several others had sanctioned a loan of Rs 94.42lakh to 20 loanees through fake and forged documents. The loan outstanding including interest increased to Rs 3.63 crore due to non-payment,” said an EOW official.

The investigating agency so far has arrested 13 persons including Mishra for the fraud. “Sahu did not make any repayment though he had availed the loan 17 years ago. The loan amount outstanding has reached Rs 10.97 lakh,” added the official. The case was registered in May 2016.

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