Home ODISHA LATEST UCO Bank fraud: CBI arrests two persons

UCO Bank fraud: CBI arrests two persons


Odisha Sun Times Bureau
Bhubaneswar, Apr 3:

The CBI sleuths today arrested two persons in connection with the much-talked-about UCO Bank fraud in 2013.

They have been identified as Chitta Mallick and Surya Ranjan Behera.

It may be mentioned that the CBI on January 7 this year had 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.

Due to inordinate delay in the repayment of loans, the bank launched an investigation and found large scale fraud by Mallick in obtaining loans from the bank.

Later, the bank requested the CBI to investigate the matter.

Acting on direction of the CBI SP MK Sinha, five teams of the CBI were constituted to conduct the probe.

A number of incriminating documents were seized during the raids.

Meanwhile, the CBI sleuths have started interrogation of the two arrested persons.