Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Police on Wednesday arrested Siba Prasad Das, former Branch Head of UCO Bank’s Old Secretariat Branch in Kataka in connection with a Rs 3.25 crore bank fraud.
EOW said Das was arrested from Trisulia in Kataka district and steps are being taken to produce him before the designated court under OPID Act, Kataka.
The case was registered on the basis of written report submitted by the Deputy General Manager and Zonal Head of UCO Bank, Kataka against Das. It was alleged therein that the accused had sanctioned and disbursed 22 car loans and 2 business loans involving an aggregate amount of Rs.3,25,43,000/- by deliberately manipulating official records and fabricating documents, and thereby causing wrongful loss to the bank.
Das, was posted as Branch Head of UCO Bank, Old Secretariat Branch, Kataka, from 2021 to 2024 and thereafter at Salepur Branch from 2024 to 2025.
During the probe, it was found that he allegedly created fake quotations for vehicle purchases, forged registration certificates, tampered with CIBIL reports, and prepared false KYC and insurance papers to process the loans.
EOW revealed that Das credited the entire loan amount directly into his personal accounts. He also opened savings accounts in the names of fictitious borrowers without valid KYC documents to disguise repayments. The investigation showed that Das himself funded those repayments to create a false impression of regular servicing.
Out of 24 fraudulent loans, Das sanctioned 16 loans worth Rs 1.85 crore while heading the Salepur Branch and eight loans worth Rs 1.39 crore during his tenure at the Old Secretariat Branch. EOW seized incriminating evidence, including 24 loan files, fake salary slips, and forged vehicle quotations.
