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Berhampur: The branch manager and a security guard of a bank in Odisha’s Ganjam district have been arrested for allegedly misappropriating over Rs 50 lakh on the pretext of disbursing loans to different organisations and joint liability groups, police said on Thursday.
Nihar Kant Pradhan, who heads the Hatiota branch of Utkal Grameen Bank (UGB, had allegedly transferred the loan money to the accounts of the security guard, Ajay Panda. He had joined the branch last June.
The fraud had come to light following an audit of the loan accounts of the bank, following which UGB regional manager Ajay Nayak lodged a complaint.
“The security guard did not object to the transfer of the amount as the 29-year-old manager apparently told him that it was his personal money,” Kabisuryanagar police station inspector Prabhat Sahoo told PTI.
The regional office is ascertaining the extent of the fraud, the officer added.
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