Bhubaneswar, March 12 -- A major financial fraud has allegedly surfaced at the Baiganabadia Post Office under Jaleswar block in Odisha's Balasore district, where a postmaster is accused of misappropriating around Rs 1.5 crore deposited by local residents. The accused has reportedly gone missing following the incident.

According to allegations, the postmaster accepted deposits from residents but issued handwritten receipts instead of officially recording the transactions in the post office accounts.

Sources said hundreds of people, many from economically weaker sections, had deposited their savings at the post office. The alleged fraud came to light when several account holders visited the post office to withdraw their deposits but found...