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Fraudster arrested by EOW in bank fraud case

Khurda: The Economic Offences Wing (EOW) of Odisha Crime Branch today arrested a person for allegedly availing loan from Allahabad Bank in Bhubaneswar by presenting fake documents.

The arrested person has been identified as Devraj Subudhi of Banapur Bazar Sahi in Khurda district.

According to EOW, Subudhi availed loans by submitting forged documents of land as surety and subsequently misappropriated the loan amount.

A case was registered against him on the written report of Babita Sar, the Chief Manager, Allahabad Bank in Station Square Branch had lodged a complaint with police in this regard. Police have registered a case and launched a probe into the matter.

During the investigation, it was revealed that accused, Devraj Subudhi and Narayan Senapati availed two loans, one is Rs 60 lakhs as cash credit loan and another one is Rs 40 lakhs as term loan for manufacturing and trading of polythene bags and packaging material for Vishal Polymers.

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