BEO Held By Odisha Vigilance For Misappropriating Rs 20 Lakh From Pension Fund & Investing In Share Market

Bhubaneswar: Odisha Vigilance officials on Thursday apprehended Rasananda Kar, Block Education Officer (BEO) of Daringbadi in Kandhamal district, for allegedly misappropriating Rs 20 lakh from the teachers’ pension scheme fund.

An official statement said that Kar was held for misappropriation of Rs 20 lakh of National Pension Scheme (NPS) funds meant for Gana Sikhyaka of the School and Mass Education department, working under his administrative control.

The BEO had in January this year allegedly transferred the money from the official NPS Account to his personal bank account in Daringibadi.

Subsequently, the accused dishonestly transferred the entire amount to one Zerodha Broking Ltd. Demat Account for investment in the share market.

In this connection, a case has been registered against accused BEO and investigation is underway.