Punjab National Bank's former manager nabbed by Odisha EOW from West Bengal

The Economic Offences Wing (EOW) of Odisha has arrested one Vinay Sonkar, the Ex-Manager of the Punjab National Bank (PNB), Circle Office, Balasore in connection with an alleged fraud case amounting to over Rs 1 crore.

The PNB's ex-manager was arrested by the Odisha EOW team from Burdwan in West Bengal on December 6 and was produced before the designated court under OPID Act in Balasore on Saturday.

Sonkar was arrested based on the complaint filed by Mrinal Kanti Mohanti,  Chief Manager of Punjab National Bank, Balasore. In his complaint, Mohanti alleged that during his incumbency Sonkar had allegedly issued directions to Branch Manager, Balasore Branch for transfer of Rs.1,23,12,236.01 to unauthorized accounts in fraudulent manner.

Senior EOW officials informed that Sonkar was posted as Manager in Circle Office, PNB, Balasore from 31.08.2020 to 04.06.2022 and was assigned with General Services Administration Department (GSAD) and also in-charge of Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE).

“He (Sonkar) had issued directions to the Branch Manager, PNB, Balasore Main Branch by fraudulently issuing letters for transfer of huge sum of money to the tune of Rs.1,23,12,236.01 from the account of the branch in different phases. The accused in order to facilitate the transfer of money from the aforesaid branch had made unauthorized transfer of the required amount from the CGTSME and TA Bill accounts of Circle Office." the EOW said in a release.

Read Also: Rs 15-crore cryptocurrency fraud: Odisha EOW arrests kingpins

Subsequently, the branch officials credited the total money vide 26 transactions to multiple accounts as given by the accused. Instead of directing to deposit the credit guarantee amount to the account of CGTSME which is meant for loans for poor persons under various government schemes, the accused had directed the Branch Manager to credit money to various unauthorized accounts.

"The accused Vinay Sonkar while posted at Rishra Morepukur Branch, Hooghly, West Bengal had also committed similar type of fraud to the tune of Rs.80 lakh during 2022, for which the bank authority removed him from service on 28.03.2024," the EOW's statement read.