NBFC Branch Head Arrested For Receiving Stolen Gold In Bhubaneswar

Bhubaneswar: The police on Saturday arrested branch head of a non-banking finance company (NBFC) at Chandrasekharpur, here for accepting stolen gold jewellery on mortgage for giving loan in Bhubaneswar.

According to sources, while a woman of Jharsuguda was going on a two-wheeler to Bhubaneswar railway station, two persons snatched her hand bag near AG square on August 25. The woman, who fell down and sustained injuries, filed a complaint at Kharavela police station.

In her complaint, the woman stated that her bag contained some gold ornaments. The day after the snatching incident, two persons, identified as Bibhuti Pradhan and Subhrojit Debata mortgaged the ornaments for a loan at the NBFC. The company officials gave them Rs 80,000 as loan for 29 gram of jewellery without verification.

Later, the police arrested the Bibhuti and Subhrojit on the basis of the woman’s complaint. After they confessed to have snatched the hand bag from the woman, police arrested NBFC branch manager Ashish Kumar Gaya, said Kharavela police station IIC Arun Swain. Further investigation into the case is on, he added.