Bhubaneswar: Odisha Vigilance on Thursday arrested two former employees of Mayurbhanj Central Cooperative Bank (MCCB) Ltd in connection with a financial fraud involving the misappropriation of government money to the tune of Rs.64,42,074/- at Bahalda Branch.
The arrested individuals have been identified as Dichen Kumar Mishra, former manager, and Malay Kumar Dutta, former employee, both of MCCB, Bahalda Branch.
An extensive investigation by Vigilance revealed that between 2019 and 2024, the accused officials along with three other co-accused bank staff had committed the fraud.
They fraudulently created fake Loan Against Term Deposit (LATD) accounts against 24 genuine Fixed Deposits belonging to various customers without their knowledge or consent, subsequently siphoned off the funds, Vigilance said in a statement.
In this connection, Balasore Vigilance Police Station registered a case under relevant sections of the Prevention of Corruption (Amendment) Act, 2018.
Both arrested accused are being forwarded to the court of the Special Judge, Vigilance, Baripada. Further investigation is in progress.