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.


Devdiscourse News Desk | Bhubaneswar | Updated: 05-02-2025 18:31 IST | Created: 05-02-2025 18:31 IST
Odisha Couple Arrested for 1.30 Crore Loan Fraud
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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.

(With inputs from agencies.)

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