3 weeks ago

Two Ex-Co-op Bank Officials Arrested for Misappropriating Government Funds

Two Ex-Co-op Bank Officials Arrested for Misappropriating Government Funds
Two ex-coop bank officials arrested · thehansindia.com

Some grown-ups who used to work at a bank in India did something they were not supposed to do.

The police say they secretly made fake loans using money that belonged to bank customers.

The customers had saved their money in something called fixed deposits, and they did not know the loans were being made.

This went on for several years, from 2019 to 2024.

In the end, a very large amount of money was missing.

The police arrested two people who used to work at the bank.

They think three more people who worked there helped too.

The police are still trying to find out everything that happened.

In a different town, another person who worked at a village savings group was also arrested.

That person is also accused of losing a lot of money.

Key facts

Arrested officials
Dichen Kumar Mishra (former manager) and Malay Dutta (former employee)
Bank involved
Mayurbhanj Central Cooperative Bank Ltd, Bahalda branch
Loss amount
Rs 64.42 lakh
Affected fixed deposits
24
Modus operandi
Fake loan-against-term-deposit (LATD) accounts created without customer consent
Fraud period
2019 to 2024
Other accused
Three other bank employees allegedly involved
Separate case
Mausam Behera, former PACS secretary in Balangir, arrested over Rs 22.19 lakh irregularities

Sources

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