Vikash Sharma

The Economic Offences Wing (EOW), Bhubaneswar on Sunday arrested two persons including the prime accused Saroj Kanta Mohapatra, Ex-Branch Manager of IDBI Bank, Dandamukundapur Branch, Pipili in connection with a fraud amounting to Rs 3.70 crore.

Mohapatra's associate Angel Mishra, who is said to be a conspirator, has also been arrested.

The case was registered on the allegation of Sandeep Pattnaik, General Manager of IDBI Bank in Bhubaneswar.

In his complaint, the senior official alleged that Sarojkanta Mohapatra, Ex-Branch Head (now Manager) and Tanmay Kumar Maharana, Ex-Asset Officer (now Asst. Manager), IDBI Bank, Dandamukundapur Branch had illegally sanctioned/disbursed 35 fictitious loans (majorly MUDRA loans) amounting to Rs.3.70 Crore, mostly in favour of their close relative/acquaintances.

During the investigation, it was found that the government cash of Rs.3.7 Crore was deposited in two bank accounts of BDO, Pipili maintained with IDBI's Dandamukundapur Branch in Pipili. 

In 2018, Pipili BDO had requested the bank for a Flexi Fixed Deposit (FFD) of the above amount, and as per the advice of the then-accused Branch Manager, the then BDO, Pipili had issued seven “Yourself” cheques for the purpose.

The matter came to light after the BDO sought for the details of the Flexi Account and the statements of the account. The bank intimated that no such FFD had ever been booked/created from the accounts of BDO, Pipili.

"An internal investigation was conducted by the bank, in which it surfaced that Rs.3.7 Cr. of Pipili Block Office deposited with the bank has been misappropriated by the then bank officials who have diverted the amount for their wrongful gain," EOW said in a release.

Further, the accused had fraudulently created 35 fictitious MUDRA loans amounting to Rs.10 lakhs each in the name of their close relatives /acquaintances, without the knowledge of the loanees. 

The disbursement of the loans was made to 35 loanees out of the funds of the bank covered under General Ledger Account. The loan amounts were found to have been transferred/diverted invariably to one particular account, the EOW said.

The entire loan amount was diverted directly/indirectly to the Bank account of Angel Mishra maintained with SBI.
To escape the audit, they closed the MUDRA loans by transferring the amount from two accounts of BDO Pipili maintained with the Branch. 

For this purpose, the accused Bank Officials tampered with the mandate of BDO, Pipili, and used the forged documents as genuine.