Bhubaneswar, Feb 6: The Economic Offences Wing (EOW) of Odisha Police on Wednesday arrested a couple for their alleged involvement in a bank fraud case amounting to Rs 1.3 crore from the Patia area in Bhubaneswar.
The accused couple has been identified as Ashirbad Pattnaik and his wife Manogyan Pattnaik.
The couple was arrested on the basis of a complaint lodged by Sushant Nayak, the regional head of the Financial Crime Prevention Group, ICICI Bank.
As per reports, Ashirbad had availed a loan of Rs 3.79 crore in January 2018 from the local branch of a public sector bank in the name of his firm ‘AB Solutions’, which is located at Jaydev Vihar area of the city, by mortgaging two flats and one duplex registered in the name of the couple.
Later in October 2018, though the aforementioned loan was running, the couple availed another loan of Rs 1.05 crore against the above said properties vide three loan accounts from ICICI Bank, Link Road Branch in Cuttack by producing forged documents.
While the above loans with the private bank were still pending, Ashirbad sold one of the mortgaged flats, which was solely in his name to Leena Appicatlaa. This transaction was carried out through a sale deed, with an internal balance transfer of the loan in favor of Leena.
The fraud committed by the couple was uncovered when the PSU Bank took legal action to repossess the mortgaged flat sold to Leena, following the default in repayment of the loan. Subsequently, the PSU also took possession of two other remaining mortgaged properties.
The ICICI Bank incurred a loss of Rs 1.3 crore due to the fraudulent activities of the accused, who had used forged documents to carry out the deceit.
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Several incriminating documents like fake sale deeds, loan documents etc were recovered from the possession of the accused during the course of the investigation.
Following the apprehension, the couple was produced before the court in Cuttack that sent them to 14 days judicial custody.
