Odisha man arrested for ₹20 lakh loan fraud in Cuttack, 6 more cases linked
Synopsis
A man who posed as a retired Block Education Officer to borrow ₹20 lakh from a Cuttack woman — promising land as collateral and then vanishing — turns out to be a serial fraudster with six more cheating cases and a separate EOW probe worth ₹3.50 crore. Odisha Police tracked him to a Balasore hideout and arrested him on 18 July.
Key Takeaways
Shasadhar Panda , a resident of Sector-13, CDA, Cuttack , was arrested on 18 July from Khaira, Balasore district .
He allegedly duped complainant Deeparani Pattnaik of ₹20 lakh under the pretext of funding his son's IT education.
Panda promised to register a land parcel as collateral but neither executed the deed nor repaid the loan, according to police.
Investigators linked him to six additional cheating cases across Bhadrak , Puri , and Cuttack districts.
The Economic Offences Wing (EOW) of Odisha Police is probing a separate fraud complaint against Panda worth ₹3.50 crore .
The victim filed her complaint at Mangalabag police station on 21 May 2026 , over a year after the alleged fraud began.
The Commissionerate Police in Odisha has arrested Shasadhar Panda, a resident of Sector-13, CDA area, Cuttack, on charges of defrauding a Cuttack-based woman of ₹20 lakh after allegedly borrowing the money under the pretext of funding his son's higher education. Panda was apprehended from his hideout in Khaira, Balasore district, on 18 July, following a technical surveillance operation.
How the Fraud Unfolded
According to police, the complainant, Deeparani Pattnaik of the Mangalabag police station area in Cuttack, first encountered Panda on 28 January 2025 at a programme organised by a voluntary organisation, Krantibahini, located at Nakhara, Cuttack district. Following the initial meeting, Panda and his family members reportedly made frequent visits to Pattnaik's residence in the Friends Colony area of Cuttack, gradually building a close relationship with her family.
Panda allegedly introduced himself as a retired Block Education Officer and requested a loan of ₹20 lakh, claiming the funds were urgently needed for his son's studies in Information Technology at a private institution. Though Pattnaik initially refused, she agreed after Panda reportedly assured her that he would register a parcel of land in Sector-13, CDA, Cuttack, in her name as collateral. She subsequently transferred the full amount through a combination of cash and mobile banking transactions.
Broken Promises and Alleged Abuse
Despite repeated follow-ups, Panda neither executed the promised sale deed nor repaid the loan, according to the Cuttack Police press statement. The victim further alleged that Panda verbally and physically abused her before switching off his mobile phone and absconding. With no recourse remaining, Pattnaik filed a formal complaint at the Mangalabag police station on 21 May 2026.
A Serial Offender with a Wider Trail
Investigators found that this was not an isolated case. Police identified six additional cheating cases registered against Panda across police stations in Bhadrak, Puri, and Cuttack districts, describing him as a habitual and professional fraudster. Notably, the Economic Offences Wing (EOW) of the Odisha Police is separately investigating a fraud complaint against Panda involving ₹3.50 crore — underscoring the scale of his alleged criminal activity.
Arrest and Investigation
Acting on technical analysis, police tracked Panda to his hideout in Khaira, Balasore district, and arrested him on 18 July. He is a native of Bhadrak district and had been residing in Cuttack's CDA area at the time of the alleged offence. The investigation is ongoing, and further action is expected as the EOW probe into the larger ₹3.50 crore fraud advances.
Point of View
A credible false identity, and a collateral promise that was never intended to be honoured. What makes it notable is the scale: six prior cheating cases across three districts and a ₹3.50 crore EOW investigation suggest a structured pattern, not opportunistic crime. The fact that the victim waited from January 2025 to May 2026 before filing a complaint points to a broader problem — social pressure and misplaced trust keep victims silent long enough for accused persons to abscond. Odisha Police's use of technical surveillance to trace Panda to Balasore is encouraging, but the EOW probe's outcome will be the real test of whether serial financial fraudsters face proportionate accountability.
NationPress
20 Jul 2026
Frequently Asked Questions
Who is Shasadhar Panda and why was he arrested?
Shasadhar Panda is a native of Bhadrak district, Odisha, who was arrested on 18 July for allegedly defrauding a Cuttack woman of ₹20 lakh. He reportedly posed as a retired Block Education Officer and borrowed the money claiming it was for his son's IT education, then failed to repay the loan or honour a promised land registration.
How did Shasadhar Panda gain the victim's trust?
According to police, Panda met the complainant at a programme of a voluntary organisation in Cuttack in January 2025 and subsequently made frequent visits to her home with his family, building a close personal relationship. He then leveraged that trust to request the loan, offering a land parcel as collateral.
How many fraud cases are registered against Panda?
Apart from the ₹20 lakh case in Cuttack, police have identified six additional cheating cases against Panda at various police stations across Bhadrak, Puri, and Cuttack districts. The Economic Offences Wing of Odisha Police is also investigating a separate fraud complaint against him involving ₹3.50 crore.
Where was Panda arrested and when?
Panda was arrested on 18 July from his hideout in Khaira, Balasore district, following a technical surveillance operation by the Commissionerate Police.
When did the victim report the fraud?
The complainant, Deeparani Pattnaik, filed her case at Mangalabag police station on 21 May 2026, more than a year after the alleged fraud began in January 2025. She reportedly delayed filing due to repeated assurances from the accused before he eventually absconded.
