Bhubaneswar: The Economic Offences Wing (EOW), Bhubaneswar, arrested accused Asutosh Acharya, deputy manager of State Bank of India, Phulbani Branch, on April 5 from Cuttack in EOW PS Case No.14 dated 03.04.2023 U/s 409/420/467/468/471/120-B IPC, r/w Sec.66 (C) of the IT Act.
A case was registered on the basis of an allegation of the regional manager of State Bank of India, RBO, Phulbani, against the accused Asutosh Acharya, who was working as deputy manager-cum-field officer of SBI, Phulbani branch, for illegally recommending and processing 59 Xpress Credit Loans meant for the salaried persons and 26 Pension Loans meant for the pensioners to the non-salaried persons and non-pensioners and subsequently misappropriating the loan amount of Rs 8,01,87,000 by transferring the same to the account of his family members and relatives etc.
During the period from September 2021 to September 2022, the accused in his capacity as deputy manager-cum-field officer, SBI, Phulbani branch, in conspiracy with others fraudulently recommended and processed 59 Xpress Credit Loans of Rs 6,77,30,000 meant for the salaried persons to the non-salaried persons. Similarly, 26 Pension Loans amounting to Rs.99,82,795 meant for the pensioners were illegally processed and recommended by the accused in favour of the non-pensioners, including his father, mother and father-in-law (dead).
The loans were sanctioned on the basis of the recommendations of the accused on the basis of manufacture and use of forged documents like salary slips etc. The sanctioned amounts were being landed in the SB accounts of the borrowers beyond their knowledge, and the amounts were further being diverted to different accounts including those of the family members and relatives of the accused amongst others. The loan amounts were being misappropriated by the accused, who allegedly put the same in illegal money circulation.
The accused is highly ambitious and was trying to make easy money by investing the loan amount in some other profitable business. He was instrumental in getting the loan sanctioned in the name of different ineligible persons without the knowledge of the borrower. The accused misappropriated an amount of Rs 8,01,87,000. An investigation into the alleged fraud is underway.
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