CBI raids eight locations in Odisha for bank fraud

Image
Press Trust of India Bhubaneswar
Last Updated : May 23 2013 | 8:10 PM IST
CBI teams today raided eight places in Odisha to investigate a Rs 13 crore fraud in a regional bank where gold loans were allegedly given against imitation jewellery.
The office and residences of Odisha Gramya Bank Dumuduma branch's suspended manager Kalindi Charan Nayak was raided as well that of the appraiser Manabhanjan Sahoo and businessman Ratikanta Kanungo, officials said.
The CBI teams also raided the residences of Nakul Parida, Bijan Sahoo, Anil Kumar Das, Purusottam Sahoo and Suryanarayan Sahoo, who according to bank records had allegedly taken Rs 13.22 crore in loans between December 2012 and March 2013 by mortgaging fake gold jewellery, they said.
The teams also seized documents relating to the loans.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: May 23 2013 | 8:10 PM IST

Next Story