The Economic Offences Wing (EOW) of the Crime Branch on Friday arrested a former Gramya Bank Manager on charges of misappropriating Rs 1.39 crore.
The accused Prasant Mohanty of Ratei branch in Baleswar in connivance with some other bank employees had allegedly embezzled the amount between 2006 and 2014. Earlier, the investigating agency had arrested branch’s cashier Subrat Kumar Piri in March this year.
In yet another development, the EOW arrested Salara Realcon Private ltd marketing manager Kailash Muduli on charges of misappropriating Rs 20 lakh from the company account.
EOW official said an amount of Rs 20 lakh had been transferred to Muduli’s personal account from the company’s account. “The amount transferred to his personal account was the money deposited by investors,” said the official. Besides, the accused had taken Rs 10 lakh as cash from the company to manage the business of the company.
Muduli is the third person to be arrested in the cheating case registered by the EOW. Earlier, the EOW had arrested company’s MD Gayadhar Jena and his partner Nibas Jena in the case.
Following a complaint lodged by 250 people in Khordha district, who had alleged that the company had duped Rs 15 crore from them earlier, a team of EOW officials arrested Muduli from Bhubaneswar after conducting a surprise raid at his residence.