EOW arrests mining trader for Rs 4.5 crore bank fraud

Cuttack: The Economic Offences Wing (EOW) of the Odisha Crime Branch (CB) today arrested mining trader Pravanjan Mohanty in connection with a Rs 4.5 crore bank fraud.

The anti-corruption wing of CB on Monday arrested Mohanty, the managing director of JBS Mineral and Overseas firm, following an order from the Orissa High Court.

As per reports, Mohanty took loan from a bank by showing forged land documents as collateral. He allegedly deposited the land documents of three different persons by forging their signature. Out of the three, one is already dead but Mohanty showed him alive in the documents.

After the Court was approached in this regard, it ordered immediate action against the accused.

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Meanwhile, police suspect involvement of some bank officials in the alleged fraud case. "Mohanty will be taken into remand for interrogation. He might be involved in more such bank frauds," said an EOW official.