The Economic Offences Wing (EOW) of Odisha Police arrested a middleman on Thursday for his alleged role in a Rs 6.88 crore loan fraud at a public sector bank in Bhubaneswar. This development comes two days after three women employees of the bank were arrested in connection with the same case.
Details of the Arrest
The accused, identified as Pradipta Kumar Lenka (40), is alleged to have received Rs 3.23 lakh from the defrauded funds. According to an EOW officer, Lenka worked in collusion with the bank officials to facilitate the fraud. The officer stated, "The accused allegedly received Rs 3.23 lakh from the defrauded funds. He worked hand in glove with the bank officials to facilitate the fraud."
Previous Arrests
On Tuesday, the EOW arrested three bank officials: Baishakhi Saha, Charubala Dandasena, and Sarita Paikaray. They were involved in sanctioning personal loans to 282 individuals using forged documents. Once the loans were disbursed, the funds were diverted to multiple accounts, and the equated monthly installments (EMIs) went unpaid, causing heavy losses to the bank.
How the Fraud Was Carried Out
Investigations revealed that the alleged misappropriation took place between May 2022 and November 2023. The bank lodged a formal complaint on May 5, 2024. According to the EOW, the borrowers submitted fake employment records, salary slips, and bank statements, posing as employees of reputed private companies. The bank officials approved the loans without verifying the authenticity of the documents.
Ongoing Investigation
The EOW is continuing its investigation to identify other individuals involved in the fraud. The agency is also working to trace the diverted funds and recover the losses incurred by the bank.
