Bhubaneswar: Economic Offences Wing (EOW) of Odisha police arrested a Deputy Manager of State Bank of India’s (SBI) Phulbani branch for allegedly misappropriating money to the tune of Rs eight crore.
The accused, identified as Asutosh Acharya, was arrested from Cuttack by EOW which had registered a case on the allegation of SBI’s Regional Manager, Phulbani.
Acharya, Dy. Manager-cum-Field Officer of SBI at Phulbani Branch was accuswed of illegally recommending and processing 59 Xpress Credit Loans meant for the salaried person and 26 Pension Loans meant for the pensioners to the non-salaried persons and non-pensioners, an EOW release said.
It was alleged that the accused subsequently misappropriated the loan amount of Rs.8,01,87,000/- by transferring the same to the account of his family members, relatives etc.
From Septemper 2021 to September 2022, Acharya in conspiracy with others fraudulently recommended and processed 59 Xpress Credit Loans of Rs.6,77,30,000/- meant for the salaried persons to the non-salaried persons. Similarly, 26 Pension Loans amounting to Rs.99,82,795/- meant for the pensioners were illegally processed and recommended by the accused in favour of the non-pensioners those include his father, mother and father-in-law (dead), it said.
The loans were sanctioned on the basis of the recommendation of the accused based on the manufacture and use of forged documents like salary slips etc. The sanctioned amounts were being landed in the SB A/c of the borrowers beyond their knowledge, and the amounts were further being diverted to different accounts including those of the family members, relatives of the accused among others.
The loan amounts were being misappropriated by the present accused, who was learnt to put the same in illegal money circulation. The accused is highly ambitious and was trying to make easy money by investing the loan amount in some other profitable business. He was the instrument in getting the loan sanctioned in the name of different ineligible persons without the knowledge of the borrower.
The accused misappropriated the total loan amount of Rs.8,01,87,000.The investigation of the case is in progress, the EOW added.
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