Odisha Crime Branch Busts Rs 1.04 Cr Bank Fraud Racket; Arrests 3

Bhubaneswar: The Cyber Crime Unit of Odisha Crime Branch has busted a racket involving misappropriation of money to the tune of Rs 1.04 crore deposited in the ICICI Bank, Dhenkanal Branch during 2021-22.

The Crime Branch (CB) has so far arrested three persons including a couple. The accused were identified as Swagatika Swain (28), her husband Manoj Kumar Sahoo (29), and their associate, Prasant Kumar Sahoo.

The Crime Branch said in a statement on Sunday that Swagatika was posted at the Dhenkanal branch of the private bank as the relationship manager while accused Prasant, works as the Deputy Bank Manager.

The fraud came to fore when some customers of the bank’s Dhenkanal branch complained to the bank authorities about some suspicious unauthorised transactions from their ICICI bank accounts.

The Regional Head, ICICI Bank Financial Crime Prevention Group had then complained to Crime Branch that several customers of ICICI Bank Dhenkanal Branch have raised concern regarding unauthorized transactions from their ICICI Bank accounts. Upon such allegations, the bank had got an internal enquiry done and it was ascertained that fraudulent transactions were carried out in the form of unauthorised overdraft against fixed deposits.

The investigation so far reveals about registration of three similar cases at Town P.S, Dhenkanal against Swagatika Swain and her associates. Further complicity in other offences is under investigation.