Odisha Couple Arrested for 1.30 Crore Loan Fraud
A couple in Odisha's Patia area was arrested for fraudulently securing a Rs 1.30 crore loan from a private bank. They mortgaged properties previously used for a Rs 3.79 crore Indian Bank loan. The Economic Offences Wing uncovered the fraud, revealing a wrongful loss to ICICI Bank.
- Country:
- India
A couple in Odisha's Patia area was apprehended by the Economic Offences Wing (EOW) for securing a loan of Rs 1.30 crore deceitfully from a private bank by remortgaging properties.
The couple, Ashirbad Pattnaik and Manogyan, had already used the properties as collateral for a Rs 3.79 crore loan from Indian Bank in 2018.
The investigation uncovered fake sale deeds and loan documents, revealing a wrongful loss of Rs 1.30 crore to ICICI Bank. One property was sold by Ashirbad, and the remaining were seized due to repayment failure.
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