Bhubaneswar,(Orissa Today) Feb 8: The Economic Offences Wing (EOW) of Odisha has arrested two individuals, Manas Ranjan Barik, the former president, and Utkal Das, the secretary of Gandhamardhan Loading Agency & Transporting Cooperative Society Ltd, for alleged fraud and misappropriation amounting to more than Rs 35 crore.
The arrests were made in Suakati, Keonjhar district, and the accused will be presented before the designated court under the OPID Act in Balasore, EOW officials confirmed.
The case was initiated after a written complaint by Biswanath Roul, alleging a fraud and misappropriation of Rs 40-50 crore by the office bearers of the cooperative. The investigation revealed that the cooperative, which was established in 2006, was involved in loading iron ore from mines in Keonjhar with the aim of benefiting local communities. However, over the years, influential outsiders, including the office bearers, allegedly took control of the operations from 2017-18 to 2023-24. They conspired to create false documents related to labour payments, infrastructural expenses, and payments to affected members, siphoning off crores of rupees in the process.
The investigation uncovered that the cooperative had been charging buyers excessively for loading iron ore at a rate of Rs 60 per ton, far higher than other loading agencies. Additionally, it was found that payments were made to various individuals and agencies under different expense categories without proper supporting documents like tenders, vouchers, or work orders.
Furthermore, many payments amounting to crores were made in cash or via self-cheques, without any payment acknowledgments or proper records. These payments lacked essential details such as the nature of the work, project names, or approval documentation, indicating an effort to divert the cooperative’s profits illicitly.
EOW arrests two for alleged Rs 35 crore fraud in iron ore loading scam
