Bhubaneswar, April 21: Economic Offences Wing (EOW), Odisha, on Monday arrested four persons in connection with a Rs 8.1 Cr loan fraud.
The accused persons identified as Smruti Ranjan Sethy and M. Dibyashree Jyoti Ranjan from Jagatsinghpur, Niranjan Behera and Debasish Behera from Nayapalli, Bhubaneswar. The arrested accused persons are going to be produced before the Designated Court under OPID Act, Cuttack.
The case was registered on the written report of Shiba Sundara Sahoo, Regional Manager, State Bank of India, RBO, Bhubaneswar wherein it was alleged that the accused persons by entering into a conspiracy availed 234 No. of Xpress Credit Loans amounting to Rs. 8.1 Cr. from Jaydev Vihar Branch (92), Damana Chhak Branch (142) of SBI during the period from Nov’ 2021 to Jan’ 2023 by producing fake/fabricated employment records as employees of different organizations like Capital Trust Ltd., Corporate InfoTech Pvt. Ltd., Falcon Marine Exports Ltd., G4S Secure Solutions Pvt. Ltd., Global Innovsource Solutions, Innovsource Services Pvt. Ltd., Muthoot Microfin Ltd., Narayana Hrudalaya Ltd., Orion Security Services Solutions Pvt. Ltd. etc.
The arrested persons in connivance with the loanees and others managed to sanction/avail 234 No. of Xpress Credit loans meant for the Corporate Sector in favour of 234 different ineligible individuals by producing fake/fabricated employment records like salary certificate, employment details, bank statements and KYC documents.
After availing the loan by fraudulent means, the loanees stopped making payment of the EMI and the loan accounts became NPA leaving the outstanding of Rs.4,77,96,009/-. As found on investigation, amounts of Rs.19,08,385/-, Rs.2.42 lakh, Rs.94,000/- and Rs.50,000/- have been transferred to the accounts of arrested accused persons Smrutiranjan Sethy, M. Dibyashree Jyoti Ranjan, Niranjana Behera and Debashis Behera respectively from the loan account of the loanees.
These accused were acting as middlemen in preparing the fake documents for financial gain. Many incriminating materials like one laptop and 05 No. of mobile phones suspected to be containing the incriminating materials have been seized from the arrested accused persons. The investigation of the case is going on
