The Economic Offences Wing (EOW) of Odisha Police has arrested a Chief Manager of the Punjab National Bank (PNB) in Bhubaneswar, along with another former employee of the bank and a middleman, in connection with a loan fraud to the tune of Rs 3.5 crore.
Birendra Kumar Pattanayak, the former Chief Manager and Narendra Nayak, Field Officer of PNB’s Bapuji Nagar Branch and middleman Prakash Kumar Behera were arrested on January 24, 2022 from Bhubaneswar and forwarded to SDJM court.
As per a release issued by the EOW, a case was registered against the accused persons on the basis of a written complaint filed by one Prasant Kumar Mohapatra.
The complainant alleged that the accused bank officials in criminal conspiracy with the partners of M/s Lingaraj Enterprises & others had extended business loans to the tune of Rs 3.5 crore in favour of the firm against mortgage of residential duplexes of the complainant without his knowledge.
The property documents were actually deposited by the complainant in the bank for availing a loan of Rs 10 lakh for him.
Investigation revealed that during 2017, the complainant had submitted the documents of his two duplexes located at Balianta at the instance of the accused bank officials, to avail a loan of Rs 10 lakh. However, the accused bank officials, in conspiracy with the middleman Prakash Behera and others, used the said documents of the complainant in pledging and sanctioning a loan of Rs 3.5 crore to M/s Lingaraj Enterprises beyond the knowledge and consent of the complainant.
The loan account of M/s Lingaraj Enterprises turned NPA during the year 2018 having outstanding loan amount to the tune of Rs 3.68 crore. The complainant came to know about the fraudulent act of the accused only after he was served a notice under SARFAESI Act by the Bank during November, 2018.
It was found that an amount of Rs 1.5 crore from the sanctioned loan amount was diverted to the account of accused middleman and Rs 10 lakh was subsequently diverted to the account of complainant to make him believe that the amount is his loan amount.
The EOW said the accused persons had earlier also adopted similar modus operandi in sanctioning loan of Rs 2.5 crore to M/s. K.P. Solutions against mortgage of forged land documents and by impersonating the mortgagers.
“Investigation of the case is continuing to identify and nab the other accused persons involved in both the cases,” the EOW added.