EOW arrests ex-Andhra Bank manager, others in Rs 7 crore fraud
Bhubaneswar: The Economic Offences Wing of the Crime Branch on Wednesday arrested three folks consisting of a former supervisor of Andhra Bank in connection with fraud to the song of Rs 7 crore.
The arrested had been recognized as Prafulla Kumar Sarangi, a former Andhra Bank Manager and secretary of Andhra Bank Employees Housing Co-operative Society and Monoj Mohapatra and Ambika Prasad Mohanty.
Mohapatra, a resident of Naupada in Cuttack and Mohanty who hails from Basudevnagar in Bomikhal region are companions of Hindustan Developers, an actual property company.
A complaint changed into lodged with the EOW by Ratikanta Samal of Satabdi Nagar towards Sarangi. In his criticism, Samal alleged that accused Sarangi lured him and a hundred and sixty different buyers to deposit Rs 7 crore with Andhra Bank Employees Housing Cooperative Society for the buy of plots at Hindustan Valley Projects of the Society placed at Madanpur Mouza.
After receiving the amount, Sadangi directed Manoj Kumar Mahapatra and Ambika Prasad Mohanty, each companion of Hindustan Developers to sign in plots. Although the assets dealers achieved sale deeds to the buyers all through 2009-eleven, they did not supply the ownership of these plots.
The investigation discovered that Prafulla Kumar Sadangi had fashioned the society for the cause of selling housing plots at a decrease rate to Andhra Bank Employees. An account becomes opened within the call of the society at Andhra Bank, Chandrasekharpur Branch and Sadangi became permitted to perform the account.
Being triggered by Sadangi, one hundred sixty buyers frequently financial institution employees, docs and different specialists had deposited a quantity of Rs 7 crores within the account of the Society. After receiving the quantity, Sadangi engaged one belongings dealer specifically Hindustan Developers represented through its companions Manoj Kumar Mahapatra and Ambika Prasad Mohanty and directed to offer evolved plots to the traders after executing an MoU.
The assets dealers performed sale deeds to those investors all through the length 2009-11, however, didn’t provide the possession because the land in questions are not having absolute proper, identify and ownership over the belongings. Thereafter, notwithstanding repeated requests by using the investors the aforementioned accused persons did no longer take any step to provide ownership of those plots with an ulterior reason and misappropriated their hard-earned money.
The 3 accused were forwarded to the courtroom of Presiding Officer, Designated Court (Under OPID Act, 2011), Cuttack. Further investigation into the problem is underway.
Anand Properties – Anand Properties is an ex-serviceman’s enterprise. It believes in serving reliability and transparency at the same time as leasing or renting industrial, business, retail outlet residences in and around the city of Gurgaon.
Co-ordinators – For over 10 years, Co-ordinators has been involved with actual estate control within the new township of Gurgaon. It mainly focusses on catering actual estate necessities of company options within the form of office spaces and home requirements that match various corporate wishes in our day to day lifestyles. Co-ordinators cowl sports from renting, buying to promoting.
Sujjan Defence Estates – It is an ex-servicemen employer providing explicit Gurgaon realty offerings by means of following a transparent and honest method.
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