Rourkela Bank Manager Diverts Over Rs 60L Customer Money For Commission, Held

The Odisha Crime Branch on Wednesday arrested a senior branch manager of a private bank in Rourkela on charges of redeeming over Rs 60 Lakhs from the fixed deposits of a customer without the latter’s consent for commission money. 

The accused, Gyanendra Panda was arrested following a complaint filed by the victim, identified as Satchitdananda Pattnaik, a bonafide customer.

The complainant said he had opened savings bank account in his name at Rourkela main branch of ICICI bank and another in his daughter’s name at the bank’s Koel Nagar branch. During the course of business transactions, Panda allegedly developed close acquaintance with the complainant.

Trusting him blindly, the victim handed him nine cheques to deposit in mutual fund. Panda initially invested Rs 7.50 Lakhs in mutual fund, but later redeemed the same without the knowledge of the victim, police said.

Panda also released the nine FDs of the complainant and his daughter through forged documents and diverted the entire amount of FDs and redemption value of the mutual funds to several policies of ICICI Prudential.

Police said the accused also misused signed blank cheques given to him by the victim. By virtue of his official influence, Panda managed to prevail upon the other maker and checkers and diverted all the money amounting to more than Rs 60 lakh without the consent of the victim to several insurance policies, said the STF in a release.

“Thus the accused got financial commission as well as other official favours,” the STF release added.

Crime Branch’s Addl. SP DB Mishra is investigation the case. Further probe is underway and the role of more bank officials is under scanner, the STF said.