Published By : Prameya News Bureau | January 12, 2022 IST
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Cuttack, Jan 12: The Crime Branch has arrested a senior official of a private bank in connection with fraud worth more than Rs 60 lakh. The accused identified as Gyanendra Panda was arrested on Tuesday. Police said that Panda came in contact with the victim Satchitdananda Pattnaik, a resident of Rourkela while he was working with the private bank. “The accused developed close acquaintances with the complainant and as per his persuasion the complainant handed over as many as nine cheques to deposit in the mutual fund. The accused though initially invested an amount of Rs7.5 lakh in the mutual fund, but later redeemed the same without the knowledge and consent of the complainant,” said a police official. The accused also misused 14 self signed cheques given by the complainant amounting to Rs 34.89 lakh. In the process he diverted all the financial transaction amounting to more than Rs 60 lakh without the knowledge of the complainant to different insurance policies,” added the police official. Police said that further investigation is continuing to ascertain the involvement of other bank officials in the crime.
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