Rs 24.14cr of fraud: reserved 53 people, including three bank employees

Bhubaneswar: CBI has registered cases against 53 people, including three officials of a nationalized bank, six builders and 44 borrowers in connection with a loan fraud of 24.17 cror.
Three bank officials against whom the cases were registered were Bhubaneswar Mohapatra, then the head of Union Bank of India (UBI), Nayapalli branch in Bhubaneswar, Aswini Kumar Patra, then Assistant Director and Rajesh Kumar Patanga, then the bank manager.
Three indicted officials, six builders and 44 borrowers were involved in Rs 24.17 fraud related to credit fraud committed by Union Bank of India, Nayapalli branch in Bhubaneshwar in 2017.
According to sources, the defendants entered into a criminal conspiracy in 2017, and the accused bank employees abused their official positions in prosecuting, sanctioning, paying off alleged housing loans.
According to the conspiracy, the accused borrowers and builders filed false documents, and they were processed by the accused bank employees without any verification contrary to banking guidelines.
After that, the entire loan amount was exempted from the accused builders (on behalf of the borrowers) without ensuring the completion of the construction of houses. Objective builders allegedly redirected approved loan amounts for other purposes.
The defendants caused an unjustifiably wrong loss of Rs 24,17,99,211.7 / (as of May 31, 19) for the Union Bank of India and the corresponding unlawful profit for itself.
Researches and offices of the accused bank officials, as well as six builders, were searched yesterday in Bhubaneswar, Puri and Rayagada, and incriminated documents were confiscated.
The cabinets of the accused Bhubaneshar Mohapatra and the accused architect Anuradha Mohapatra have been identified, which will be reviewed soon, CBI officials said.

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