EOW Arrests Man For Cheating Rs 1 Crore Through Fake Vehicle Loans

Bhubaneswar: The Economic Offence Wing (EOW) of Crime Branch today arrested one person for allegedly cheating Rs 1 crore to several banks though vehicle loans. The accused identified as Maitreya Mishra was from Linagarj area this morning.

Police said that Mishra along with others had opened several fake accounts in the name of different automobile dealers and had deposited demand drafts issued in the name of those dealers for vehicle loans.

“The fake accounts were opened during 2015 and 2017 at several banks. Subsequently, the vehicle loans were approved and money was deposited in the accounts. Investigation so far revealed that vehicle loans were sanctioned for 24 vehicles but no vehicles were purchased. The total outstanding of vehicle loan stood at Rs 1.09 crore,” said a police official.

The case was registered in April last year on the basis of a complaint filed by Pallaspalli Branch Manager of Central Bank of India. “Mishra was absconding and used to change his place of stay frequently. Further investigation is continuing to ascertain possible involvement of bank officials in the case,” added the police official.     

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