# India

Odisha officer diverts teachers’ pension funds to share market, arrested

The accused later dishonestly transferred the entire amount to a private account for investment in the share market, said vigilance sleuths.

SNS | New Delhi | March 21, 2024 2:36 pm

Odisha officer diverts teachers’ pension funds to share market, arrested

The anti-corruption vigilance wing of police on Thursday arrested an Odisha Elementary Education Service (OEES) cadre Officer on the charge of diverting National Pension Scheme (NPS) funds of contractual teachers to share market investment.

The accused officer- Rasananda Kar, Block Education Officer (BEO) Daringbadi in Kandhamal district- misappropriated NPS funds worth Rs 20 lakh by transferring the amount to his savings bank account in a nationalised bank.

The accused later dishonestly transferred the entire amount to a private account for investment in the share market, said vigilance sleuths.

The accused, booked under sections 13(2)r/w13(1)(a)Prevention of Corruption Amendment Act,2018, was remanded to jail custody after a Special Vigilance Court rejected his bail application.