Telegraph reports Sushil Kumar Satpathy manager of Jharkhand cooperative Bank’s Seraikela branch has been jailed for swindling Rs.37 crore.
A source says following an audit of the bank’s transactions CID arrested him. Besides Satpathy, cases against seven other people have also been registered with Seraikela police.
Satpathy was arrested by the CID at Bistupur and the investigation of the multi-crore scam is underway.
Among several cases, Satpathy is alleged to have given loans worth Rs. 32.8 crore to Sanjay Dalmia, a businessman without proper documents.