The Economic Offences Wing (EOW) of Odisha Crime Branch has arrested two persons on the charges of fraudulently transferring government fund of Rs 2.45 crore. The accused have been identified as Subas Ghising Giri and Shahbaaz Naqvi.
Subhas was arrested on March 24 and brought to Odisha on a transit remand after his production before ACJM, Barrackpore Court, 24 Pragana, Kolkata on March 25. Similarly, Saiyed, a native of Raipur, has been produced before JMFC Barbil today.
Both the accused were arrested on the basis of a complaint filed by the Executive Officer, Barbil Municipality on the allegation of fraudulent and unauthorised transfer of Rs 2,45,60,800 from their official account maintained with Bank of Baroda by forging the cheques and the signature of the complainant.
On March 16 and 21, the accused Subhas and Saiyed had managed to transfer/withdraw Rs 2,45,60,800 from the account by forging cheques and the signature of the complainant.
“Both the above noted accused persons are the part of a well organised fraud racket. Both the above accused were running a mule account being active part of the conspiracy. They had already withdrawn part of embezzled money but were nabbed before withdrawing rest amount. They used to get 15% of the amount for operating the mule account,” EOW said in a release.
The mastermind of the racket has been identified and efforts are on to arrest them soon. During investigation, an amount of Rs 1.15 crore out of the fraudulent transferred amount has been located and frozen, it added.