Baripada, Apr 13: Following to a loan fraud at the Baripada Urban Co-op Bank, former legislator Bimal Lochan Das was sentenced for a one year jail term by the vigilance court, yesterday. The court along with Das has penalised at least 7 more in the fraud link.
As of sources, Das, during his term as the president of the Co-op bank, Das had sanctioned loan to some persons, violating the bank’s rule of business and RBI guidelines. But that was not all, as irregularities in the finances came after he stepped down from the position. After detecting the irregularities, a case was registered with the police and chargesheet was filed against the accused.
