The Enforcement Directorate (ED) has provisionally attached movable and immovable properties totaling Rs 78 lakh related to an alleged bank fraud at the Anjuna branch of Bank of Baroda. This action was taken by the ED’s Panaji Zonal Office under the Prevention of Money Laundering Act (PMLA), 2002. The investigation stemmed from an FIR filed by the Economic Offences Cell (EOC) of Goa Police against Udit Narayan, the former Branch Manager of Bank of Baroda’s Anjuna branch, and others.
Investigations by the ED revealed that the accused were involved in a criminal conspiracy to deceive the bank and its customers through unauthorized diversion of funds from genuine account holders without their consent. Udit Narayan, allegedly misused his official position to execute a systematic fraud by illicitly debiting accounts of unsuspecting customers. The affected accounts included institutional accounts like the Communidade of Anjuna and several dormant accounts.
The misappropriated funds were reportedly funneled through multiple ‘mule’ bank accounts operated by associates who served as intermediaries to disguise the illegal source of the money. The ED also claimed that forged signatures and benami SIM cards were utilized to facilitate unauthorized transactions and evade detection. The properties seized by the ED consist of a commercial shop at ‘Sadashiv Plaza’ in Ponda, a plot of land in Anjuna, a residential flat at ‘Kirti Residency’ in Ponda, and certain bank balances under Udit Narayan’s name.
Authorities mentioned that some of the immovable properties were registered under alleged conduits and were confiscated as an equivalent value of the proceeds of the crime. The total proceeds of crime in this case have been estimated at Rs 2.34 crore. The investigation under the PMLA is currently ongoing.
