Jamshedpur, May 23: After being arrested by Criminal Investigation Department, Jharkhand Cooperative Bank’s Saraikela branch manager Shushil Kumar Satpathy was sent to Seraikela divisional jail after he was produced before a judicial magistrate on Saturday.
Satpathy (57) who was accused of scam over Rs 37 crores of the bank’s money was arrested by CID at Bistupur on Friday afternoon.
Deputy superintendent of police (CID) Animesh Gupta said beside Sapathy, there are seven other accused in two separate cases registered with the Seraikela thana in August 2019 after the matter came to forth following an audit in August 2019 . Later the cases had been referred to the CID.
“We are investigating the scam. In one of the cases, Satpathy, who is presently suspended from the bank granting an amount of Rs 32.8 crores to a businessman Sanjay Dalmia without valid documents. In this case, Dalmia is also accused but is presently on bail. In another case, six other Jharkhand Cooperative Bank officials beside Satpathy and Dalmia are accused of embezzling Rs 4.4 crores of the bank money,” said Gupta. The DSP (CID) pointed out they arrested Satpathy after collecting all necessary evidence.