EOW nabs OAS officer, two others in bank fraud
Bhubaneswar: The Economic Offences Wing (EOW) of the Odisha Crime Branch police on Wednesday arrested an Odisha Administrative Service officer (OAS) officer and two former managers of Bhubaneswar Urban co-operative bank for their involvement in a loan fraud to the tune of Rs 30 crore.
Sources said the EOW has arrested OAS office Bharat Bhusan Jagdev, the then secretary of Bhubaneswar Urban Cooperative Bank and two former managers of the bank Shantanu Mohanty and Udayanath Sahu for allegedly defrauding Rs 30 crore from the bank by extending fraudulent loans to their relatives by issuing forged documents.
Talking to the media, Crime Branch ADG B K Sharma said, “We have identified three bank officials who are primarily responsible for the fraud. We have arrested these three persons: they are Shantanu Kumar Mohanty, secretary main branch Urban Cooperative Bank and Udayanath Sahu, the then branch manager Urban Cooperative Bank and Bharat Bhushan Jagdev, the then secretary and presently serving as deputy secretary in the government. They will be forwarded to court today. We will also move the court to get them on remand.”
Notably, the State government had ordered a Crime Branch inquiry in 2015 after fraud to the tune of Rs 117 crore came to the fore during audit.