BHUBANESWAR: The EOW on Saturday arrested a former branch manager of the Central Bank of India (CBI) for allegedly swindling Rs 1.09 crore by sanctioning 24 vehicle loans. The accused Swayam Prakash Parida was arrested by an EOW team from Cuttack. Parida was absconding since he was dismissed from service on the basis of a complaint lodged by CBI’s Palaspalli branch here.
Police said Parida, who was posted as branch manager from May 2015 to November 2017 had sanctioned 24 vehicle loans along with a cash credit loan ranging from Rs 2 lakh to Rs 9.75 lakh under the bank’s ‘Cent Vehicle Scheme’. The loans were allegedly sanctioned in the names of different persons using forged KYC and other documents.
“Parida, in collusion with one Maitreya Mishra who was arrested earlier in the case, sanctioned the loans and diverted the amount to different accounts opened by the latter in the names of reputed vehicle dealers without their knowledge. The loan amounts were misappropriated by both of them,” an investigating officer said.