EOW busts Rs 3.5 crore bank loan fraud

Cuttack: The Economic Offences Wing (EOW) of Odisha Police has busted a bank fraud involving Rs. 3.5 crore loan scam.
Five persons, including a Home Guard, have been arrested in this connection.
A case was registered with EOW basing on the complaint of Bhabani Shankar Mohanty, Regional Manager, SBI, Regional Office, Cuttack. The investigation revealed a meticulously planned conspiracy that began with the formation of a partnership firm.
Further investigation is on to identify additional accomplices and trace the full extent of the diverted funds.