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Ex-Manager Of Odisha Gramya Bank, 3 Others Held For Rs 2.02 Crore Loan Fraud

10 November 2018

Bikash Das

Bhubaneswar: The Economic Offences Wing (EOW), Bhubaneswar, today arrested an ex-manager of Odisha Gramya Bank (OGB) and three others in connection with a loan fraud case and forwarded them to the court of SDJM, Bhubaneswar.

The accused have been identified as Prasanna Kumar Jena, ex-manager of OGB's Rasulgarh branch, Bikram Keshari Pradhan, Rajalaxmi Pradhan and Madan Mohan Pradhan.

Reportedly, Debadutta Nanda, Regional Manager of Odisha Gramya Bank, Pipli had alleged that Bikram along with his wife Rajalaxmi and brother-in-law Madan had availed loans of Rs 2.02 crores for purchasing Tata Hyva vehicles and one Scorpio by submitting forged fabricated documents.

They misappropriated the loan amount without purchasing any vehicle in connivance with branch manager Prasanna. Investigation revealed that the three entered into criminal conspiracy with Prasanna to defraud the bank.

The three had together availed a loan of Rs 1,26,70,000. While Bikram had availed two loans, one of Rs 41.70 lakhs and another of Rs 36 lakhs for purchasing two Tata Hyva vehicles, his wife Rajalaxmi had taken a loan of Rs nine lakhs for purchasing a Scorpio.

Similarly, Madan had taken a loan of Rs 40 lakhs to purchase two Tata Hyva vehicles.

They had submitted forged documents such as RC books, insurance papers, quotations and documents and misappropriated the loan amount by opening fake accounts at Axis Bank, Bhubaneswar without purchasing the vehicles.

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