Bhubaneswar, Jul 1: The Odisha Economic Offences Wing (EOW) arrested a former branch head of UCO Bank in connection with a major loan fraud case involving over Rs3.25 crore, officials said on Wednesday.

The accused, Shiv Prasad Das, was apprehended from Trishulia in Cuttack district and is set to be produced before the OPID Court in Cuttack, they added.

#Bhubaneswar | In a major bank fraud case, EOW arrested Siba Prasad Das, former Branch Head of UCO Bank's Old Secretariat Branch, from Trisulia, Cuttack. He is accused of fraudulently sanctioning loans worth over Rs. 3.25 crore using fake documents.#EOW #BankFraud #Odisha… pic.twitter.com/80wL0LNNJr

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According to official sources, Das, who earlier headed the Old Secretariat branch of UCO Bank, sanctioned and disbursed loans using forged documents. The case involves 22 car loans and two business loans, all approved on the basis of fake KYC papers, fabricated salary slips, and forged vehicle quotations.

The fraudulent loans were not genuine transactions, but carefully orchestrated schemes designed to siphon funds, sources said.

The probe revealed that the sanctioned amounts were diverted directly into Das’ personal account. To disguise the fraud, he allegedly opened accounts in customers’ names, deposited money, and created the impression of regular loan repayments. This manipulation allowed him to continue the scheme undetected for a period of time.

During the investigation, the EOW seized multiple forged documents, including fake loan applications and supporting papers. Officials described the arrest as a significant step in tackling financial crimes in the state, noting that such frauds undermine public trust in banking institutions.

The case highlights the growing challenge of financial irregularities and the importance of vigilance within the banking sector.