Home BIG STORY EOW arrests OAS officer and two others in bank fraud case

EOW arrests OAS officer and two others in bank fraud case

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Odisha Sun Times Bureau
Bhubaneswar, Jan 13:

The Economic Offences Wing (EOW) of the Odisha Crime Branch police today arrested an Odisha Administrative Service officer (OAS) officer and two former managers of a cooperative bank for their involvement in a loan fraud running into crores of rupees.

Fraud

The EOW has arrested OAS office Bharat Bhusan Jagdev, the then secretary of Bhubaneswar Urban Cooperative Bank and two former managers of the bank Shantanu Mohanty and Udayanath Sahu for allegedly defrauding Rs 30 crore from the bank by extending loans to their relatives using forged documents.

“On the basis of our investigations we have identified three bank officials who are primarily responsible. Two former bank officials Shantanu Kumar Mohanty, secretary main branch Urban Cooperative Bank, Udayanath Sahu, the then branch manager Urban Cooperative Bank and Bharat Bhushan Jagdev, the then secretary and presently serving as deputy secretary in the government and. We have arrested these three persons. They will be forwarded to court today. We will also move the court to get them on remand,” said B K Sharma, ADG Crime Branch briefing reporters here today.

The Crime Branch has registered two cases in this connection.

The state government had ordered for an inquiry by the Crime Branch following its closure in 2015 after frauds to the tune of Rs 117 crore was detected during audit.