Two Held for Rs 34 Lakh Fraud

Published: 25th December 2015 02:49 AM  |   Last Updated: 25th December 2015 02:49 AM   |  A+A-

BHUBANESWAR: The Twin City Commissionerate Police on Thursday arrested two employees of a cash management company for allegedly defrauding an amount of `34 lakh.

Former branch manager Satya Narayan Mohapatra and another staffer Mithun Swain were held by Kharavela Nagar police basing on a complaint lodged by the firm's legal head Malaya Banerjee, Bhubaneswar DCP Satyabrata Bhoi said.

The firm is mandated with loading cash in the ATMs of banks as part of its service. Police said the firm in its audit found a cash shortfall of `34 lakh in August following which an investigation was made.

Bhoi said the two were accused of making away with the cash which remains in their custody. They have been slapped charges under Sections 420/406/408/120(B) and 34 of the Indian Penal Code.

Details of the case are still being dug into to ascertain how they allegedly manipulated with the cash.


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