The Central Bureau of Investigation (CBI), which had arrested a realtor and former branch manager of Odisha Gramya Bank (OGB) over the Rs 13.22 crore fake gold loan scam, has detected huge assets owned by the latter while the former was found to have made major investment in his businesses.
Promoter of Shivani Real Estates Ratikanta Kanungo and branch manager Kalindi Nayak were in CBI remand for seven days and sent back to judicial custody after being produced before a court on Thursday.
Investigation revealed that Kanungo had purchased large volumes of imitation jewellery vouchers which were found from his office and residence during the CBI raids. While Kanungo had used his cook and driver to appear as loanees and taken huge sums mortgaging fake gold, he invested in an engineering college and other businesses.
His documents were also found from the house of Nayak’s elder brother.