Two ex-bankers among five get 14-year jail term for Rs 1.31 crore loan fraud in Odisha
BHUBANESWAR: The court of chief judicial magistrate at Baripada in Mayurbhanj district on Thursday sentenced five persons, including two former officers of Bank of India to 14 years imprisonment in connection with a loan fraud to the tune of Rs 1.31 crore.
The convicted bankers were identified as Girija Shankar Mishra, a former branch manager of Bank of India’s SIPS Campus (Jharpokharia) and Satarupa Mohanty, a former officer of the bank. The other three convicted persons are Bangali Charan Jena, Susant Kumar Jena and Satyananda Patra, all private persons.
The economic offences wing (EOW) of the state Crime Branch had registered the case on November 19, 2014 against the accused after receiving a complaint from the bank regarding the loan fraud. During investigation, the EOW found the bank had disbursed Rs one lakh loan each to 131 fake beneficiaries under Jalnidhi scheme as an agriculture investment credit.
“We found that Girija Shankar conspired with the other four accused persons and sanctioned the loan in favour of fictitious beneficiaries between May 2012 and March 2013. The accused furnished fake documents and sanctioned the loan to the fake beneficiaries. Later, they embezzled the money,” EOW’s superintendent of police Awinash Kumar said.
The EOW arrested Bangali Charan on November 27, 2014, Girija Shankar on December 22, 2014, Susant Kumar on January 6, 2015, Satarupa on March 13, 2015 and Satynanda on April 16, 2015.
The EOW had submitted a charge sheet against the accused on October 26, 2015. “Apart from 14 years of imprisonment to the five accused, the court has also ordered Rs 27 lakh fine against each of them,” Kumar said.
Bangali Charan and Susant Kumar were in judicial custody since their arrests whereas the other three persons were out on bail. They were taken into custody after the judgment, EOW said.
“Excellent. My appreciation to the investigation team and prosecutor. Such conviction will be a good deterrent .Well done EOW,” tweeted director general of police Abhay.