EOW arrests two former bank employees for Rs 1.15 crore fraud

Bhubaneswar: The Economic Offence Wing (EOW) of state Crime Branch today arrested two former employees of Angul United Central Cooperative Bank for allegedly misappropriating Rs 1.15 crore in 2015-16.

The investigating agency today arrested Sahadev Sahu, the former accountant and Santanu Kumar Baral, former banking assistant for the fraud. Police said that both of them have been forwarded to the court.

The EOW has registered the case on April 30 on the basis of a complaint by the secretary of the bank. “Investigation so far revealed that both the accused with two other bank employees misappropriated the money by crediting the amount to different accounts. The amount was debited from different head of general ledger account meant for payment of interest,” said an EOW official.

Police said that the money was credited to as many as 65 accounts in 187 transactions. “The accounts in which money was credited were not eligible for interest. The accused had withdrawn the credited amount by using their own IDs. Further investigation in the case is continuing,” added the official.

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