Bhubaneswar: The Economic Offences Wing (EOW), Odisha, on Monday arrested four persons in connection with Rs 8.1 crore State Bank fraud.
Smruti Ranjan Sethy and M Dibyashree Jyoti Ranjan were apprehended from Jagatsinghpur, and Niranjan Behera and Debasish Behera from Nayapalli, Bhubaneswar, the EOW said in a release.
They were arrested on the basis of a written complaint lodged by State Bank of India, RBO, Bhubaneswar, Regional Manager, Shiba Sundara Sahoo, alleging that the accused in connivance with loanees defrauded the bank by availing Xpress Credit loans, amounting to Rs 8.1 crore, meant for the Corporate Sector for 234 different individuals from its Jaydev Vihar and Damana Chhak branches by producing fake/fabricated employment records – salary certificate, employment details, bank statements and KYC documents.
They had identified themselves as employees of different organisations like Capital Trust Ltd, Corporate Infotech Pvt Ltd, Falcon Marine Exports Ltd, G4S Secure Solutions Pvt Ltd, Global Innovsource Solutions, Innovsource Services Pvt Ltd, Muthoot Microfin Ltd, Narayana Hrudalaya Ltd and Orion Security Services Solutions Pvt Ltd.
After availing the loan, the loanees stopped paying EMI and the loan accounts became Non-Performing Assets, leaving an outstanding of Rs 4,77,96,009.
The investigation revealed that Rs 19.08 lakh, Rs 2.42 lakh, Rs 94,000 and Rs 50,000 were transferred to the accounts of Smrutiranjan, Dibyashree, Niranjana and Debashis, respectively, from the loan account of the loanees. “These accused acted as middlemen and prepared the fake documents for financial gain. Many incriminating materials, a laptop and 5 mobile phones were seized from them,” the release said.
Further investigation is underway, it added.
