Odisha EOW arrests two more persons in bank fraud case involving over Rs 8 crore

Bhubaneswar (Odisha) [India], August 6 : Economic Offences Wing (EOW), Bhubaneswar arrested two accused persons on Saturday from Bhubaneswar and they will now be produced in court of sub-divisional judicial magistrate, Phulbani.
The arrested accused persons are Samaresh Ranjan Das and Hemanta Panda. A case has been registered in EOW Police Station U/s 409/420/467/468/471/120-B IPC, r/w Sec.66 (C) of IT Act.
The case was registered on the allegation of Regional Manager, State Bank of India, RBO, Phulbani, against Asutosh Acharya, the then Dy. Manager-cum-Field Officer of SBI, Phulbani Branch for illegally recommending and processing 59 Xpress Credit Loans meant for the salaried person and 26 Pension Loans meant for the pensioners in favour of the non-salaried persons and non-pensioners, and for misappropriating the sanctioned loan amount of Rs. 8,01,87,000 by transferring the same to the account of his family members, relatives and others.
"During the period from Sep’ 2021 to Sep’ 2022, Asutosh Acharya in his capacity as Dy. Manager-cum-Field Officer, SBI, Phulbani Branch in conspiracy with the arrested accused persons and others fraudulently recommended and processed 59 Xpress Credit Loans of Rs. 6,77,30,000 meant for the salaried persons in favour of the non-salaried persons. Similarly, 26 Pension Loans amounting to Rs. 99,82,795 meant for the pensioners were illegally processed and recommended by the accused in favour of the non-pensioners including his father, mother and father-in-law (dead)," EOW Odisha officials said.
The loans were sanctioned on the basis of the recommendation of Acharya basing on the fake/forged documents like salary slips etc. "The sanctioned amounts were being landed in the SB A/c of the borrowers beyond their knowledge, and the amounts were further being diverted to different accounts including the accounts of the above noted accused Samaresh Ranjan Das and that of Smruti Multi-Purpose Cooperative Society Ltd., Naharakanta, Balianta, of which the arrested accused Hemanta Panda is the Secretary," EOW Odisha officials added.
As found on investigation, Rs.1.46 Crores and Rs.47,43,104/- have directly been credited to the account of Samaresh Ranjan Das Hemanta Panda whereas amount of more than Rs 3 Crores of the fraud amount has been diverted to the account of Smruti Multi-Purpose Cooperative Society Ltd, and the amount has been misappropriated by the accused persons Samaresh Ranjan Das, a Civil Supply Inspector (under suspension) and Hemanta Panda, the Secretary of Smruti Multi-Purpose Cooperative Society Ltd. and Asutosh Acharya. They are learnt to put the fraud amount into illegal money circulation.
The accused persons were trying to make easy money by investing the loan amount in some other profitable businesses. The loans were sanctioned in the name of different ineligible persons and that to without the knowledge of the borrowers even. The accused persons misappropriated the total loan amount of Rs.8,01,87,000/- and to cover it up they have managed to make payment of some initial EMIs of the loans. Earlier, the main accused Asutosh Acharya has been arrested and forwarded to court.
J.N. Pankaj IG EOW Odisha is investigating the case.