Cuttack (Odisha): Police in Odisha have arrested a man in connection with an alleged ₹20 lakh loan fraud, accusing him of borrowing money from a woman on the pretext of funding his son’s higher education and promising to transfer a parcel of land in return. According to investigators, the accused neither executed the promised land transfer nor repaid the loan. The accused has been identified as Shasadhar Panda, a native of Bhadrak district who was residing in Sector-13 of the CDA area in Cuttack.
According to police, the complainant, Deeparani Pattnaik, a resident of the Mangalabag area in Cuttack, first met the accused on January 28, 2025, during a programme organised by a voluntary organisation, Krantibahini, at Nakhara in Cuttack district. Investigators said Panda and his family members subsequently began visiting her residence frequently and gradually developed a close relationship with her family.
During the course of their acquaintance, the accused allegedly introduced himself as a retired Block Education Officer and claimed that he urgently needed ₹20 lakh to finance his son’s higher education in Information Technology at a private educational institution. Although the complainant initially declined to lend the money, she later agreed after the accused allegedly assured her that he would execute and register a parcel of land located in Sector-13, CDA, Cuttack, in her favour.
Believing these assurances, the complainant allegedly transferred a total of ₹20 lakh to the accused through cash payments and mobile banking transactions. However, despite repeated requests, the accused allegedly neither executed the sale deed for the promised land nor returned the borrowed amount.
The complainant further alleged that when she repeatedly demanded repayment, the accused verbally abused and physically assaulted her before switching off his mobile phone and absconding. Left with no alternative, she lodged a complaint at Mangalabag Police Station on May 21, 2026.
During the investigation, police allegedly found that Panda is a habitual offender with six other cheating cases registered against him at different police stations in Bhadrak, Puri and Cuttack districts.
Police also said that the Economic Offences Wing (EOW) of the Odisha Police is conducting a separate investigation against Panda in connection with an alleged ₹3.50 crore fraud. Investigators are examining whether he used similar methods to deceive other victims and whether additional complainants may be linked to the case.
Based on technical analysis and intelligence inputs, police arrested the accused from his hideout in Khaira, Balasore district, on July 18. Authorities said the investigation is continuing, with officers examining the accused’s financial transactions, assets, and possible links to other fraud cases. Further legal action may be initiated if additional evidence emerges during the course of the investigation.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
