Nabarangpur, Aug 19: A Relationship Manager at ICICI Bank’s Raighar branch in Odisha’s Nabarangpur district has been arrested for allegedly embezzling Rs15 lakh from a customer, police said on Tuesday.

The accused, Haldhar Nayak, reportedly misled businessman Sanjay Saha from Jodajonga (DNK) village into transferring his savings under false pretenses.

Saha, who had opened a savings account at the Raighar ICICI branch, had deposited a substantial amount for business purposes. Observing the large balance, Nayak allegedly devised a scheme to exploit the funds. He called Saha to the bank and convinced him that his money could be doubled if deposited in another financial institution. Trusting the bank official, Saha agreed.

Subsequently, Nayak withdrew Rs15 lakh from Saha’s account and transferred it elsewhere. Months passed without any trace of the money, and repeated requests by Saha to return the funds were ignored. Frustrated, Saha lodged a formal complaint at Raighar police station.

Based on the complaint, Inspector Raghunath Majhi initiated an investigation at the bank. A case was registered under Case No. 178/25, invoking Sections 318(2), 318(3), and 318(4) of the IPC. Nayak was formally arrested and produced in court.

Police officials confirmed that the investigation is ongoing and further legal action will be taken. The incident has raised serious concerns about internal fraud in banking institutions and the need for stricter oversight.