The CBI Bhubaneswar wing on Tuesday began its investigation into the alleged gold loan fraud worth Rs 13.22 crore at the Odisha Gramya Bank’s Dumuduma branch here recently.
The CBI team questioned the bank’s three senior officials, including the Chief General Manager, in this connection. However, the team did not reveal anything about the outcome of the investigation. According to sources, five city-based people allegedly hoodwinked the bank by mortgaging fake gold ornaments and availing of jewel loans worth Rs13.22 crore between December 2012 and March 2013.
“We have suspended Dumduma branch manager Kalindi Charan Nayak and removed the jewel appraiser Manabhanjan Sahoo for the offence as the duo are the prime suspects. Meanwhile, the CBI has started its investigation and truth will come to limelight soon,” said Utkal Gramya Bank General Manager (Head Office) SK Mishra. He said the fraud came to light during a joint routine inspection in December last year. “The annual average sanction of jewel loan of Dumuduma branch is nearly Rs 4 crore. But we get surprised when we saw that branch has cleared and approved Rs13.22 crore jewel loan in just three months forcing us to conduct an inquiry,” said Mishra.
As per the guidelines the headquarters engaged an officer and jewel appraiser to investigate the matter. On December 30, the team submitted a report, confirming the fraud and reported that the gold is not original rather it is gold-coated aluminium metal.
The branch's jewel appraiser had given a certificate that the gold was pure which was approved by Branch Manger Behera, leading to the release of Rs13.22 crore to five persons, Mishra added.