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EOW arrests bank official for sanctioning fraudulent loan

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Bhubaneswar: The Economic Offence Wing (EOW) arrested Bimbadhara Swain, son of Bansidhara Swain of Tankapani Road Bhubaneswar, presently working as DGM, Indian Overseas Bank (IOB), Regional Office, Bengaluru on Saturday on charges of fraudulent sanction of CC/vehicle loans of 1.8 crore.

The investigation revealed that swain, the then branch manager of IOB, Rasulgarh BBSR  had sanctioned a CC loan of 1 crore and a car loan of 8 lakh in favour of a fraudster Asutosh Mishra on the basis of forged and fake documents in 2010.

Accused Bimabadhara was produced before the court of 8th Additional Chief Metropolitan Magistrate, Bengaluru on Saturday and has been brought to Odisha on transit remand and scheduled to be produced before Court of SDJM, Bhubaneswar today.

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