Bhubaneswar: The Economic Offences Wing (EOW) of Odisha arrested Rama Narayan Bal, son of Dhruba Charan Bal of Erada village, Bhadrak district, in a major case of cheating by impersonation involving more than Rs 20 crore.
He was taken into custody on October 29, 2025, under EOW PS Case No.17 dated October 28, 2025, and produced before the Designated Court under the OPID Act, Cuttack. He remains in judicial custody.
Investigators revealed that Bal, who previously worked as Sales Manager with SBI CAP Security from 2023 to 2024, impersonated State Bank officials to defraud people. He lured victims by promising access to auctioned properties of loan defaulters. Using forged agreements, fake seals of SBI, and forged signatures of senior officials, he cheated multiple individuals. So far, authorities confirmed fraud exceeding Rs 20 crore from nine victims, including one company, with over Rs 14 crore lost in a single case.
During interrogation, Bal admitted to acquiring huge movable properties from crime proceeds in his name and in the names of relatives. On December 20, 2025, EOW conducted simultaneous raids at Bhadrak and Bhubaneswar, seizing assets including three motorcycles from his Niladri Vihar residence, 144 high-value mobile phones from Bhadranee Mobiles, four DJ vehicles with sound systems and generators from Bhadranee Music in Rahanja, Photography equipment and sound systems from Bhadranee Photography, Motel Chhak in Bhadrak, and three luxury cars (Thar Roxx, Audi A4, Chevrolet Cruze) from Bhadranee Music, Pahala, Bhubaneswar.
Authorities confirmed Bal’s involvement in four additional criminal cases across Baisinga, Bhadrak, and Talcher police stations. The investigation continues as EOW intensifies its crackdown on financial fraud.
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