Bhubaneswar: The Economic Offence Wing (EOW) of State Crime Branch on Wednesday arrested one Budhimanta Sahu (47) in connection with bank fraud in Dhenkanal district.
According to police, the accused, identified as Budhimanata Sahu, had availed loan of Rs 3 lakh from Urban Cooperative Bank Ltd, Dhenkanal in 2001 by forging documents.
“The then president of the bank Sukanta Kumar Mishra and several others had sanctioned a loan of Rs 94.42lakh to 20 loanees through fake and forged documents. The loan outstanding including interest increased to Rs 3.63 crore due to non-payment,” the EOW said in a press note.
The case was registered in 2016 and the investigating agency so far has arrested 13 persons including Mishra for the fraud.
“Sahu did not make any repayment though he had availed the loan 17 years ago. The loan amount outstanding has reached Rs 10.97 lakh,” the press note said and also added that further investigation into the bank fraud case is underway.