Rs 70Lakh loan against fake gold lands finance company officials in trouble in Odisha 

Police on Wednesday arrested the branch manager and assistant branch manager of Manappuram Finance Limited at Phulbani town in Kandhmal district for giving loan amounting to Rs 70,87,872 allegedly against fake gold. 

The arrested persons have been identified as Purna Chandra Behera, the branch manager and Ashrumochan Biswal, the assistant branch manager. The person who has taken the loan by mortgaging fake gold has been identified as Prashant Kumar Senapati, who is absconding. 

According to Phulbani Town Police Station IIC Ashok Kumar Giri, "The fraud had come to the fore during an audit on January 3. The audit team subsequently informed about it to the higher officials. Then the area manager of Manappuram Finance Limited Subashis Das lodged a complaint regarding the fraud on January 9. On the basis of his complaint, the arrests were made." 

The accused duo was produced in court on Wednesday and a detailed investigation is underway.