Bhubaneswar: The Economic Offences Wing, Odisha arrested six persons in SBI loan fraud of Rs 16.71 Crore.
The accused persons have been identified as Anirban Patnaik, Anupama Dash, Tophan Rout, Satyaban Rout, Tukuna Mallick and Feroz Khan. They were produced before the Designated Court under the OPID Act, Cuttack on 04.09.2024.
The case was registered on the written report of Shiba Sundara Sahoo, Regional Manager, State Bank of India, RBO, Bhubaneswar wherein it was alleged that the accused persons by entering into a conspiracy availed 161 No. of Xpress Credit Loans amounting to Rs. 16.71 Cr. from Jaydev Vihar (139), Patia (5), Raghunathpur (11) and Jharpada Branch (6) of SBI during the period from Nov 2022 to Oct 2023 by producing fake/fabricated employment records as employees of Phonepe Pvt. Ltd.
As found on the investigation, so far–
– Anirbana Patnaik had taken a building on rent at DLF, Patia, Bhubaneswar to run the office of his company ‘Purvi Venture Pvt. Ltd.’ but by entering into a conspiracy with other accused persons, the building was projected to be the regional office of Phonepe at Bhubaneswar by putting the sign boards and stickers of Phonepe.
– Besides, one fake e-mail looking like that of Phonepe was created by the accused persons.
– The accd. persons approached different branches of SBI at Bhubaneswar for Xpress Credit Loan (Personal Loan) by filing the inflated salary slip and the forged employment certificate of Phonepe.
– During the Pre-sanction visit, the above-mentioned building was hired by accused Anirban Patnaik was fraudulently shown as the Regional Office of Phonepe and the fake e-mail was used to give clearance during verification that the loan applicants were the employees of Phonepe. In this fraudulent manner, the accused persons managed to get a total of 161 No. of Xpress Loans meant for the corporate sector sanctioned in the name of different accused loanees by making/using forged documents.
– Investigation revealed that the accused. persons were receiving 35% of the loan amount from the loanees to get it sanctioned in their favour.
The loanees were being asked to submit their IDs like Aadhaar and PAN, and the other documents were being arranged/managed by the accused brokers. The fake e-mail was being used to give the false information that the accused were the employees of Phonepe. Amounts were being sent in advance for 3-4 consecutive months to the accounts of the loanees on a particular date of a month to give the impression that it happens to be the salary account of the loanees where regular salaries are being credited every month. When the loans became stressed due to non-refund of the loan amount, fraudulent activities were suspected which necessitated an internal investigation in which the fraud came to the surface.
Among the arrested accused persons, Tophan Rout, Feroz Khan and Anupama Dash have taken loans by producing fake documents like fake employment certificates of Phonepe and inflated salary slips with the help of the other accused persons. Many incriminating materials, such as mobile phones containing incriminating messages pertaining to fraud, have been recovered and seized from the arrested persons.
It has recently come to the knowledge of PhonePe Private Limited (“PhonePe”) that certain persons have been arrested by the Economics Offenses Wing of the Odisha Police for falsely representing themselves as employees of PhonePe to avail loans from State Bank of India under fraudulent pretence. At the outset, PhonePe unequivocally states that the arrested persons are in no way associated with PhonePe or its employees at any point in time. Such persons have never been employed by the company and any documents in relation to PhonePe used by such persons are forged documents.
PhonePe is a law-abiding organization and has been cooperating and working closely with the Economic Offenses Wing of the Odisha Police and the State Bank of India to aid their investigation. We shall continue to do as and when called upon. Needless to state, PhonePe condemns the actions of such persons for their unauthorized and illegal use of PhonePe’s brand and goodwill.
