Home CRIME Bank officer held for embezzlement of Rs 2.40 cr

Bank officer held for embezzlement of Rs 2.40 cr


OST Crime Bureau

Bhubaneswar, Oct 10:

The Economic Offences Wing (EOW) of the Crime Branch (CB) late on Wednesday night arrested a field officer of State Bank of India (SBI), Rajsunakhala branch in Nayagarh district for embezzlement of around Rs 2.40 crore by manipulating the loan accounts of 150 Self Help Groups (SHGs) in the area.

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According to CB DIG Rajesh Kumar, the field officer Ashok Kumar Sahoo, a resident of Patnaikpada in Sambalpur, had created fake accounts in the name of 150 SHGs and withdrew funds by way of crop loans from their accounts which he then diverted to other accounts.

Sahoo was booked under sections 467, 466, 471, 420, 439,120 (B) of IPC and forwarded to court on Thursday, he said.

“We received a complaint from SBI Bhubaneswar Regional General Manager Gopal Krushna Dash on October 8 regarding embezzlement of funds. During our investigations, we found strong evidence against the field
officer and arrested him on Wednesday night. Two other persons were also involved in the embezzlement and efforts are on to nab them,” said the DIG.

Sources said the field officer was suspended twice earlier on charges of irregularities.

“Since he is a field officer, his main job was to verify the accounts and to ensure correct opening of accounts. Here, he has violated regulations in creating many fake accounts in the name of SHGs producing fake documents,” said the DIG.

Sahoo joined the SBI as field officer on contractual basis in 2010 after obtaining an MBA degree from RIMS College in Rourkela.




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