Kendrapada: The former bank manager nationalized in Kendrapada was arrested on Friday on charges of Rs 1.50 Crore Case of loan fraud.
The defendant, Manmohan Mohanty, worked as manager of Canara Bank Branch in Makan Kendrapada City Police Station.
Satyajit Das, a businessman and trader owner Jagannath Santa Sahi submitted a quarter against the bank manager in 2016 who alleged that the manager had cheatedly pulled Rs 13 Lakh from his account using a check that he had given him loan sanctions.
Acting on compliance, the police investigated and found the manager had debited around 1.50 crores from account 14 customers.
In all cases, it collects bank checks from customers as documents for loans.
He was suspended in 2018.
“During the investigation, we found the defendant bought a luxury apartment in Bhubaneswar and landed in Kendrapada, Bhubaneswar and Pipili,” said IIC from the Kendrapada City Police Station, Jyotiranjan Samantray.
The defendant was produced in court in Kendrapada on Friday.
Odisha: Former Bankers Arrested for Rs 1.5 Crore Fraud in Kendrapara
