Synopsis
Bhubaneswar, Feb 5 (NationPress) The Economic Offences Wing (EOW) of Odisha Police has detained a couple involved in a significant bank fraud case amounting to Rs 1.3 crore, as reported by an EOW official.Key Takeaways
- Couple arrested for bank fraud in Odisha.
- Fraud amount totals Rs 1.3 crore.
- Involves forged documents.
- Couple sold mortgaged property.
- Judicial custody for 14 days.
Bhubaneswar, Feb 5 (NationPress) The Economic Offences Wing (EOW) of Odisha Police apprehended a couple involved in a Rs 1.3 crore banking fraud, confirmed a senior EOW official.
The pair, identified as Ashirbad Pattnaik and his spouse Manogyan Pattnaik, were taken into custody from the Patia locality in Bhubaneswar.
The couple was arrested following a complaint filed by Sushant Nayak, the regional head of the Financial Crime Prevention Group at ICICI Bank.
According to the complaint, Ashirbad secured a loan of Rs 3.79 crore from a public sector bank in January 2018, using his farm, “AB Solutions”, located in the Jaydev Vihar area.
He had mortgaged two flats and one duplex owned by both Ashirbad and Manogyan to obtain the loan from the public sector bank.
While these loans were active, in October 2018, the couple again secured a loan of Rs 1.05 crore against the aforementioned properties through three loan accounts from the ICICI Bank, Link Road Branch in Cuttack, using forged documentation.
Ashirbad, during the continuation of these loans, sold one of the mortgaged flats solely in his name to Leena Appicatlaa, transferring the internal balance of the loan in her favor.
The fraudulent activities were uncovered when the public sector bank initiated legal proceedings to reclaim the mortgaged flat sold to Leena due to loan repayment defaults.
The public sector bank subsequently reclaimed two additional mortgaged properties. ICICI Bank incurred a loss of Rs 1.3 crore due to the fraudulent actions of the couple, who had utilized forged documents.
The authorities have also confiscated various incriminating materials, including fake sale deeds and loan documents, during their investigation.
The couple was presented before the court in Cuttack, which remanded them to 14 days of judicial custody.
