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EOW arrests one more person in Rs 2.26 crores loan fraud case

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Bhubaneswar: The Economic Offences Wing (EOW) of the Crime Branch on Tuesday arrested a 50-year-old man in connection with a loan fraud to the tune of Rs 2.26 crores.

The accused was identified as Rabindra Kumar Nayak, a resident of Bebartapalli village under the Town police limits in Nayagarh district. He was produced before the sub-divisional judicial magistrate (SDJM) court in Cuttack.

According to sources, the EOW had registered a case against Nayak following the complaint of Pranab Kumar Ray, senior manager, Allahabad Bank, Nayasarak Branch, Cuttack for fraudulently availing loans to the tune of Rs 2.26 crores.

Nayak had availed the loans in the names of 85 loanees under “Scrota Loan” scheme from Nayasarak Branch of Allahabad Bank in Cuttack during the period from December 2009 to March 2010. The accused had availed the loans by producing forged documents in collusion with Rabindra Kumar Jena, establishment officer in the office of the chief engineer of drainage division, Gandarpur, Cuttack.

During the investigation, the EOW came to know that Nayak had also availed Rs.3 lakh loan by impersonating himself as a draughtsman in the office of the chief engineer, Drainage Division, Gandarpur, Cuttack.

Earlier, at least 21 accused persons have been arrested in connection with the fraud. Besides, 19 other accused have been arrested and subsequently released on bail.

In the meantime, the judicial magistrate first class court in Cuttack has convicted accused Rabindra Kumar Jena after completion of the trial against him. The trial in respect of other accused persons is sub judice. The investigation is in progress, the EOW said.

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