BEO Arrested for Misappropriating Rs 20 Lakh in Kandhamal Dist, Invested Money in Stock Market

Bhubaneswar: Odisha Vigilance authorities on Thursday arrested Rasananda Kar, Block Education Officer (BEO) of Daringbadi in Kandhamal district, for allegedly misappropriating Rs 20 lakh from the funds meant for teachers’ pension scheme.

It is alleged that the arrested accused diverted the amount from the National Pension System of teachers to his personal account. Later on he invested the misappropriated money in the stock market in two phases starting in January.

The Vigilance officials are interrogating Rasananda to find out how he managed to transfer such a huge sum into his account and whether some others were also involved in the misdeed.