Balasore: The Crime Branch sleuths on Friday arrested an employee of Bank of India Remuna branch in the district for alleged misappropriation of pension funds to the tune of Rs 1.32 crore.
According to sources, the accused Prabhat Das had been working as Business Correspondent at the bank. It is alleged that Das used to draw the pension amount from the account of dead persons citing them alive.
Preliminary investigation suggests that there may be involvement of several other officials of the bank in the embezzlement. Meanwhile, the CB has initiated a probe into the matter.
The concerned bank authorities or any police official could not be contacted to obtain details related to the matter.