Bhubaneswar, April 21: The Economic Offences Wing (EOW) arrested four persons in connection with Rs 8.1 crore loan fraud schemes at the Jaydev Vihar and Damana Chhak branches of State Bank of India (SBI).
While Smruti Ranjan Sethy and M. Dibyashree Jyoti Ranjan were arrested from Jagatsinghpur, Niranjan Behera and Debasish Behera were nabbed from Nayapalli area of Bhubaneswar. The arrested accused persons were produced before the Designated Court under OPID Act.
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 Xpress Credit Loans amounting to Rs 8.1 crore from Jaydev Vihar Branch and Damana Chhak Branch of SBI during the period between November 2021 and January 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 and avail 234 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.
During investigation it was revealed that an amount 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 arrested persons were acting as middlemen in preparing the fake documents for financial gain.
Many incriminating materials like one laptop and five mobile phones were seized from the arrested accused persons.
