CBI Registers Case Against PNB Officials Of Bhubaneswar Branch In Rs 31.92 crore Fraud

Bhubaneswar: The Central Bureau of Investigation (CBI) on Thursday registered a case against nine persons including officials of Punjab National Bank’s branch in Bhubaneswar, along with the management team of a private firm and others in connection with a fraud amounting to Rs 31.92 crore (approx).

As per official sources, the case has been registered against four officials--Nagmani Satyanarayana Prasad, the then Chief Manager, SC Sharma, the then Assistant General Manager, Manoranjan Dash, the then Chief Manager, Priyotosh Das, the then Senior Manager of Punjab National Bank, Station Square Branch, Bhubaneswar.

Besides, a case under sections 120-B, 420 of IPC and Sec. 13 (2), 13(1)(d) of PC Act has also been registered against M/s Global Trading Solutions Ltd(Bhubaneswar) and its Managing Director Abinash Mohanty, Kaushik Mohanty and ex-directors Anshuman Samantaray and Bidhubhusan Nayak.

In a statement, CBI informed that simultaneous searches at the official/residential premises of accused including then officials of Punjab National Bank & private persons at Visakhapatnam (Andhra Pradesh), Kolkata (West Bengal), Jammu (J&K), Bhubaneswar and Cuttack were conducted in connection with the bank fraud. During searches incriminating documents and locker keys have been found.

Earlier, it was alleged that the said PNB officials entered into a conspiracy with the Bhubaneswar-based private firm through its said Director(s) in the matter relating to fraud perpetrated in processing, sanctioning and disbursing CC facility, bill discounting and issuing Letters of Credit to said private firm during 2010-15.

The private firm illegally diverted the funds received from the bank to its sister/ group companies and misutilised the same beyond the scope of funds sanctioned. It was also alleged that the bank officials did not verify the genuineness of the business activities of said private company/firm for which losses to the tune of Rs. 31.92 crore (approx.) was suffered by Punjab National Bank, CBI said in its statement.

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(Edited By Bikram Keshari Jena)