Two Bank Officials Arrested For Rs 1.96Cr Agriculture Loan Fraud In Odisha

Bhubaneswar: The Economic Offence Wing (EOW) of the Crime Branch on Wednesday arrested two former employees of Syndicate Bank in Odisha in connection with loan fraud to the tune of Rs 1.96 crore.

The accused have been identified as former branch manager Subash Chandra Dash and former assistant manager Marianus Lakra of Syndicate Bank’s Burla branch in Sambalpur district.

They have been forwarded to the court of the sub-divisional judicial magistrate (SDJM) in Sambalpur today.

According to a complaint lodged by Syndicate Bank’s Regional Manager Chandrakanta Dasmohapatra, Dash and Lakra, who served as branch manager and assistant manager respectively from 2014 to 2016, sanctioned 196 agriculture loans of Rs 1 lakh each to fictitious persons under Syndicate Kisan Card Scheme.

The loans later became non-performing assets causing loss to the bank.

Incriminating documents were seized from their house during raids. Further investigation is underway, the EOW added.

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