A Block Education Officer (BEO) of Odisha was arrested for investing pension amount of ₹20 lakh belonging to teachers in stock market.
Vigilance directorate investigators arrested Rasananda Kar, BEO of Daringbadi of Kandhamal district, on charges of misappropriating government money.
He has diverted National Pension Scheme (NPS) funds to the tune of ₹20 lakh meant for Gana Sikhyaka of School and Mass Education Department working under his administrative control.
According to Vigilance Directorate, the BEO in January this year transferred ₹20 lakh from the official NPS account to his personal account. Subsequently, the officer transferred the entire amount in two tranches to one Zerodha Broking Limited which maintains Demat account of Mr. Kar.
