Bhubaneswar, August 26: The Economic Offences Wing (EOW) of the Odisha Police has arrested a 55-year-old man in connection with a loan fraud amounting to ₹1.27 crore.

 The accused, identified as Subrat Kumar Nayak, was apprehended on Tuesday.

 According to officials, Nayak had secured a loan of ₹1.03 crore from ICICI Bank’s Bomikhal branch on November 30, 2017, by mortgaging three land plots.

 Further investigation into the case is underway, the EOW stated.

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