The Crime Branch (CB) on Wednesday arrested 13 persons in connection with a Dhenkanal Urban Co-operative Bank (DCUB) loan fraud case.
Those arrested were the bank’s former president Sukant Mishra, secretary Niranjan Kar, two members of the loan sub-committee and nine defaulter loanees.
The bank had been declared bankrupt and closed in 2008. There were allegations of financial irregularities to the tune of `11.82 crore between 1993 and 2001, sources said. “During investigation, it was known that some higher officials of the bank had hatched a criminal conspiracy and granted loans to several persons through fake documents.
The officials had also granted loans to their family members and other relatives,” said Special CB ADG BK Sharma.