Odisha’s Economic Offences Wing (EOW) arrested Siba Prasad Das, former Branch Head of UCO Bank’s Old Secretariat Branch, Kataka, for orchestrating a Rs 3.25 crore bank fraud.
The arrest took place on July 1 at Trisulia, Cuttack, under EOW PS Case No. 09 dated 19.06.2026, registered under multiple IPC sections and the IT Act.
Investigators found that Das sanctioned and disbursed 22 car loans and two business loans worth Rs 3,25,43,000 by manipulating official records and fabricating documents. He allegedly created fake quotations for vehicle purchases, forged registration certificates, tampered with CIBIL reports, and prepared false KYC and insurance papers to process the loans.
EOW revealed that Das credited the entire loan amount directly into his personal accounts. He also opened savings accounts in the names of fictitious borrowers without valid KYC documents to disguise repayments. The investigation showed that Das himself funded those repayments to create a false impression of regular servicing.
Out of 24 fraudulent loans, Das sanctioned 16 loans worth Rs 1.85 crore while heading the Salepur Branch and eight loans worth Rs 1.39 crore during his tenure at the Old Secretariat Branch. EOW seized incriminating evidence, including 24 loan files, fake salary slips, and forged vehicle quotations.
EOW officials confirmed that Das will be produced before the Designated Court under the OPID Act. The EOW bank fraud case underscores the agency’s commitment to tackling financial crimes and protecting public institutions from internal corruption.
