In Odisha, a bank manager and a security guard have been arrested for a Rs 52 lakh fraud. Police stated on Thursday that the branch manager and a security guard of a bank in Odisha's Ganjam district were arrested for allegedly misappropriating over Rs 50 lakh.
They said, the theft was detected after an audit of Utkal Grameen Bank's (UGB) loan accounts. Police said, Nihar Kant Pradhan and security guard Ajay Panda misappropriated around Rs 52 lakh under the guise of disbursing loans to various organisations and joint liability entities.
According to a complaint filed by UGB regional manager Ajay Nayak, Pradhan, who oversees the Hatiota branch, transferred the loan money to the security guard's accounts.o Kabisuryanagar police station inspector Prabhat Sahoo said, the security guard did not object to the transfer since the 29-year-old manager reportedly convinced him that it was his personal funds.
Pradhan had started as the branch manager in June of last year. The two have been arrested, and the regional office is investigating the fraud's scope, according to the officer.
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