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Two senior bank officials arrested for facilitating loan fraud in Odisha

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Reported by Santosh Jagdev
Bhubaneswar, Sep 3:

The CBI today arrested a DGM and an AGM of a nationalized bank  in connection with a multi-crore loan fraud case in Odisha .

The Central agency arrested the two senior officials of the Kolkata main branch of UCO Bank-  DGM DN Routray and AGM Rabi Shankar Dasgupta – in connection with the loan fraud, which is estimated to be in the range of Rs 41 crore.

Earlier, on April 3 the CBI had arrested two persons including a hotelier in connection with the loan fraud case. The arrested were hotelier Chitta Ranjan Mallik (45) and his accomplice Sourya Ranjan Behera (35) for forging documents and taking a loan of Rs 5.37 crore from the secretariat branch of the nationalized bank.

Sources said that the fraud took place during the period May 2005 to August 2011.

Sourya had taken a loan of Rs 45.89 lakh from the bank on the name of his transport company, Satya Sai Transport, which as the CBI found out never existed.

“The twosenior officials of the bank had helped him get the loan,” said a CBI official.

The matter came to light after the bank officials found inordinate delay in the repayment of the loan by the loanee.

On June 19 last year, the UCO Bank  had registered a case with the CBI against the accused and two general managers.