Odisha EOW nabs another accused in loan fraud of Rs 4.13 cr

Prameyanews English

Published By : Prameya News Bureau | September 06, 2023 IST

The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies

Bhubaneswar, Sept 6: Economic Offences Wing (EOW), Bhubaneswar arrested accused Md. Sarfaraj Jawed on  05.09.2023 from Bhubaneswar.

The arrested accused is going to be produced before the  Hon’ble OPID Court, Cuttack today. He had fled to Midnapore district of West Bengal and  was hiding for a long time. 

The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies, out of which 08 No. of  loans amounting to Rs.4.13 could not be recovered 

Sk. Abdul Hayee was the Branch Manager of Urban Cooperative Bank Ltd., Nuapatna  Branch whereas Prakash Kumar Mohapatra was the Sr. Assistant. Both in conspiracy with  the loanees namely Md. Mustakim Raza, Md. Iftekhar Asif Khan and the arrested accused  Md. Sarfaraj Jawed had fraudulently sanctioned 25 No. of loans against the security of  fake/forged LIC policies. Further, they went on renewing the loans by sanctioning new loans. 

The arrested accused Md. Sarfaraj Jawed had availed four loans amounting to  Rs.1,58,65,000/- against four LIC policies showing him as the life assured whereas actually  policies stand in the name of many different persons like Pawan Kumar Gupta, Rajendra  Kumar Sahoo and Sarfaraj Dilawar. Again, some of these policies have also been given as  security by all the three loanees by changing their names as life assured. 

Earlier, four accused persons namely Sk. Abdul Hayee, Prakash Kumar Mohapatra,  Md. Mustakim Raza and Md. Iftekar Asif Khan was arrested in this case.  

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The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
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The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
The case was registered on the allegation of Priyabrata Panda, Chief Executive  Officer, Urban Cooperative Bank Ltd., Cuttack alleging that from 2019-21, the Ex-Branch  Manager of Nuapatna Branch and Ex-Sr. Assistant in conspiracy with three loanees including  Md. Sarfaraj Jawed had sanctioned 25 loans against fake LIC policies
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