Baripada (Mayurbhanj): A Vigilance Court in Baripada has convicted three former officials of the Baripada Urban Co-operative Bank and a loanee in a loan fraud case, sentencing each to three years of rigorous imprisonment.

The Special Judge, Vigilance, Baripada, today convicted Asutosh Mohanty, former Branch Manager (disengaged) of the bank’s Rairangpur branch; Kantilal Mugree, former Chief Executive (retired); Krupasindhu Mohanta, former President of the bank; and Salil Agarwal, a loanee from Rairangpur. The court also imposed a fine of ₹30,000 on each of the four convicts.

The accused were charge-sheeted by Odisha Vigilance under Sections 13(2) read with 13(1)(c) and (d) of the Prevention of Corruption Act, 1988, along with Sections 418, 420, and 120-B of the IPC, for misappropriating government funds amounting to over ₹15.58 lakh.

According to the prosecution, the bank officials favoured Agarwal by sanctioning and disbursing a loan based on fabricated documents and inadequate collateral, in violation of the bank’s lending norms.

Meanwhile, Vigilance sources said the agency will move the competent authority to stop the pension of Kantilal Mugree following his conviction.