New Delhi: The CBI’s “special drive” against bank frauds during which it raided over 50 locations in more than 20 cities across the country and registered 17 separate cases has interestingly also revealed an alleged bank loan fraud racket run by Union Bank of India officials at a branch in Odisha’s Bhubaneshwar.Registering three FIR’s in the matter, the Central Bureau of Investigation has alleged that Bhubaneshwar Mohapatra, then Chief Manager of the Nayapalli branch in Odisha, conspired with two of his colleagues and several builders in the area to help more than 40 private individuals defraud the public bank of more than Rs 24 crore. Also Read – How a psychopath killer hid behind the mask of a devout laity!According to the CBI’s case, the probe agency has alleged Mohapatra along with Ashwini Kumar Patra, then Assistant Manager of the branch and another official at the branch Rajesh Kumar Patanga designed a system in connivance with up to eight builders and approved their projects without the proper paperwork and appropriate scrutiny. In fact, the central probe agency has alleged as a result, at least 44 home loan borrowers, who were in on the alleged scam got loans sanctioned by submitting false and fictitious documents, including forged Income Tax Returns and KYC documents, which were processed by the accused bank officials without any verification. Also Read – Encounter under way in Pulwama, militant killedThe Rs 24.17 crore loan, which was sanctioned and disbursed by the branch as part of this alleged conspiracy was then diverted by the accused builders for purposes other than the one disclosed. Further, the CBI has accused the bank officials of releasing the entire loan amounts without even ensuring that the projects had finished construction. These projects included the construction of simplex and duplex homes at plots in and around the city of Bhubaneshwar. The accused builders include GDS Builders and Surnag Builders. The CBI, as part of its massive search operation, raided a total of nine premises in connection with this case, three belonging to the accused bank officials and six belonging to the accused builders in Bhubaneshwar, Puri, and Raigarh. The probe agency recovered several incriminating documents and files, including a key to a personal locker.