The Economic Offences Wing (EOW) of the State Crime Branch on Wednesday arrested a 36-year-old man and his wife for allegedly misappropriating the loan amount taken from the Allahabad Bank in Bapuji Nagar in the city.
The accused were identified as Debi Prasad Pattnaik and his wife Sanjukta Jena (32) of Puri.
The matter came to light after Allahabad Bank Chief Manager Isidor Kujur lodged a complaint with the police against the couple for defrauding the bank.
Reports said Pattnaik and his wife Sanjukta had availed a loan of Rs 39 lakh on the pretext of buying a flat allegedly by producing fake documents. However, after availing the loan they did not repay the loan installments. Further investigation into the matter is on while the accused persons would be produced before the court, an official said.