Home CRIME CBI raids city businessman for Rs 30 cr bank fraud

CBI raids city businessman for Rs 30 cr bank fraud


OST Crime Bureau
Bhubaneswar, Jan 8:

The CBI on Tuesday conducted simultaneous raids at the residence, ancestral home and office of Niranjan Mallick, a city based businessman, for allegedly floating sham companies and obtaining loans to the tune of Rs 30 crores from the local branch of the UCO Bank in the name of the employees of these fraud companies.
According to a top official of the CBI, Mallick had floated around 8 to 10 enterprises, Solar Eyes Mines, Satya Sai Transport and Prone Care being some of them. Unusual delay in repaying the loans led to suspicion among bank officials, who launched an investigation and found that Mallick had committed large scale fraud in obtaining loans from the bank. Following the discovery, the bank requested the CBI to investigate the matter. On CBI SP M K Sinha’s directions, five teams of the CBI were constituted to conduct the probe.
CBI sleuths on Tuesday simultaneously raided Mallick’s ancestral home at Korei in Jajpur district, his residence at N/5 in IRC Village, his office in Ekamra Kanan area and the residence of one of his employees.
A number of incriminating documents have been seized during the raids, a top CBI official revealed.