Bhubaneswar: The Economic Offences Wing (EOW) of Odisha has arrested a former branch manager of Central Bank of India’s Pallaspalli Branch in Bhubaneswar in connection with a loan fraud.
The accused, identified as Swayam Prakash Parida, was absconding for a long time and he has already been dismissed from the service. He was arrested on the basis of allegation made by the Central Bank of India’s Pallaspalli branch manager.
The official had alleged that during 2015-17, Maitreya Mishra and others, fraudulently opened several bank accounts in the name of M/s Shree Bharat Motors, M/s City Motors, M/s Aditya Motors, M/s Utkal Automobiles and M/s Rajpath K.T.M, Bhubaneswar, in different banks using fake and forged documents. They got the sanctioned loan amounts credited to these accounts and misappropriated the same, EOW sources said.
During his incumbency, Parida allegedly sanctioned 24 vehicle loans and one CC loan with the amount varying from Rs 2 lakh to Rs 9.75 lakh under the ‘Cent Vehicle Schemes’ in the name of different persons basing on the forged KYC and loan documents.
As per EOW, Parida in conspiracy with one Maitreya Mishra sanctioned the loans in the name of different persons including the fake ones and diverted amount to different accounts opened by Mishra in the name of reputed vehicle dealers like M/s Shree Bharat Motors, M/s City Motors, M/s Aditya Motors, M/s Utkal Automobiles and M/s Rajpath K.T.M by using fake KYC and documents.
As per EOW, the accounts were opened and managed by accused Maitreya Mishra fraudulently in connivance with the arrested accused Swayam Prakash Parida.
An amount of Rs.1.09 crore in respect of the 24 vehicle loans and one CC loan have been sanctioned and disbursed illegally, and the amount was misappropriated by the accused persons. The loans were sanctioned for purchase of the vehicles, but fake insurance certificate, cover notes, payment receipts in respect of the vehicles were submitted without purchase of any vehicle, EOW said.
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