Image used for representational purpose
Berhampur: Police on Tuesday evening arrested the branch manager of the Hatiota branch of Utkal Gramin Bank (UGB) in Ganjam district and a security guard for their alleged involvement in a scam of over Rs 50 crore.
The branch manager, Nihar Kant Pradhan, 29, and security guard, Ajay Panda, 36, were arrested after the bank’s regional manager, Ajay Kumar Nayak, filed a complaint against the two alleging misappropriation of around Rs 52 lakh from the bank. Prabha Sahu, Inspector-in said, “Pradhan sanctioned 26 loans to various organizations and Joint Liability Groups (JLGs) from August 2021 to March 2022. -Kabisurya Nagar SHO.
Police said Panda colluded with Pradhan, who joined the Hatiota branch as manager in June 2021, to allow him to transfer money to his account.
The scam came to light after the bank’s regional office audited the loan accounts. “Soon after the regional manager lodged the FIR, we arrested both of them from the branch itself,” Sahu said. However, the police have not ruled out any other involvement in the scam.
“Investigation is on. The amount of fraud may increase. The regional office of the bank is conducting searches to ascertain whether any further frauds were committed by the branch manager,” the official said.