Bhubaneswar: Continuing its investigation into the allegation of bank loan fraud by Sambad/Eastern Media Limited (EML) using criminal intimidation, cheating and forgery, the Economic Offences Wing (EOW) of Odisha Crime Branch has seized some “credible document”.
The EOW, in a press release on Tuesday, said many vital witnesses and victims have been examined during the investigation. They corroborated the allegation of the complainant and further disclosed the method and magnitude of the scam.
The investigating agency has seized some credible documents including loan and bank related documents in the Sambad office.
“Investigation/evidences collected, so far, reveal a huge, well and meticulously planned scam to get the loan amounts sanctioned in crores of rupees using fraudulent method of cheating, forgery and coercion,” the EOW said.
More than 350 Sambad/EML employees have taken loan from Odisha Gramya Bank, IRC Village branch in Bhubaneswar alone over the last few years. Loan taken from other banks like SBI and others are yet to be scrutinised. The actual figure is expected to be much higher.
Almost all loan process follows the same pattern. Following patterns have come to notice so far:
- Rs 5 lakh loan under easy money loan scheme of the bank.
- Same ground like house/house repair
- Forged salary certificate submitted by Sambad/EML authorities.
- There is a huge difference (almost double) between actual salary and the salary certificate produced by Sambad/EML authorities.
- It appears that loan forms have been prepared/filled by someone else and employee/loanee has put his/her signature only.
- Actually loanees have not received single penny nor benefited by loan amount.
- Once loan is sanctioned, the amount is withdrawn in cash.
- The EMI to be paid is almost equal to the net salary of employee.
- Some employees have been forced to take loan 2-3 times too.
- Employees are not given salary slip.
- EMIs are paid by Sambad/EML.
- EMI is paid in 60 instalments.
- Strangely, in many cases, EMIs are paid by Sambad/EML even employees have left/resigned/removed from the company months before.
- Getting loan sanctioned in this style has been a continuing phenomenon for years for Sambad/EML.
The above pattern seems not to be just one instance or coincidence but a well thought of conspiracy and organised bank fraud, the EOW said in the release.
