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EOW nabs Rs 7-cr loan fraud accused from Delhi

Bhubaneswar, Oct 1: The Economic Offences Wing (EOW) of the Crime Branch has arrested one Somanath Adhikari in connection with two bank fraud cases worth Rs 7 crore.

He was arrested from Delhi Airport on Thursday by a special EOW team. He was produced in a local court here on Saturday.

In both the cases put together, he has cheated State Bank of India (SBI) and HDFC Bank to the tune of Rs 7 crore. He was on run for last four years.

According to EOW officials, in the year 2007, Adhikari, resident of Lalbazar, Ward No.4, Baripada in Mayurbhanj district had applied for cash credit loan from SBI SMECCC Branch, Bhubaneswar. He used fake documents such as electricity bill, voter identity card, rent and holding tax receipts to cheat the bank.

He also produced fake guarantor who impersonated as genuine and obtained cash credit loan of Rs 1.5 crore. He could also secure a bank guarantee of Rs 10 lakh and adhoc over draft facility of Rs 15 lakh from the bank. Subsequently, he did not pay dues.

Earlier in this case, accused Jata Sahoo, fake guarantors Pitabash Behera and Mamata Kandi were arrested and forwarded to court.

In 2007 too, Adhikari also took loan from erstwhile Centurion Bank of Punjab Ltd which later merged with HDFC Bank.

“Adhikari availed loan to the tune of Rs 5.25 crore from the bank on the basis of fake documents and did not repay the loan amount,” said a EOW Press release.

Acting in tip-off that Adhikari was travelling from Mumbai to Delhi by air, an EOW special team nabbed him at Delhi airport on his arrival on Thursday.

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