Bhubaneswar, March 31: The Odisha Crime Branch's Cyber Crime Unit has dismantled a network allegedly engaged in embezzling funds exceeding Rs 1.04 crores deposited in the ICICI Bank, Dhenkanal Branch during the fiscal year 2021-22, according to a statement from a CB official on Sunday.

Thus far, the Crime Branch (CB) has apprehended three individuals, including a married couple. Identified as Swagatika Swain (28), her spouse Manoj Kumar Sahoo (29), and their associate Prasant Kumar Sahoo, the accused held key positions within the bank.

Swagatika served as the relationship manager at the Dhenkanal branch, while Prasant worked as the Deputy Bank Manager.

The fraudulent activities were exposed when customers of the Dhenkanal branch reported suspicious unauthorized transactions from their ICICI bank accounts.

"Following an internal investigation by the bank, it was discovered that fraudulent transactions were conducted, including unauthorized overdrafts against fixed deposits, fictitious investments in mutual funds, premature closure of FDs, and misappropriation of premium amounts from ICICI prudential policy. Swagatika allegedly orchestrated these transactions for personal gain. The transactions occurred between February 1, 2021, and June 30, 2022," the CB official explained.

Subsequently, the Regional Head of ICICI Bank's Financial Crime Prevention Group filed a complaint with the Crime Branch in December of the preceding year. The CB initiated an investigation and registered a case (33/23) in response to the complaint.

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