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:
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.
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