India News | Mumbai: Four Get Jail Sentences for Cheating Bank of Rs 50 Lakh
Get latest articles and stories on India at LatestLY. A special Central Bureau of Investigation (CBI) court on Monday convicted a former chief manager of Dena Bank's Andheri branch in Mumbai and three others in a Rs 50 lakh cheating case.
Mumbai, Aug 29 (PTI) A special Central Bureau of Investigation (CBI) court on Monday convicted a former chief manager of Dena Bank's Andheri branch in Mumbai and three others in a Rs 50 lakh cheating case.
They were found guilty under Indian Penal Code and Prevention of Corruption Act provisions by Special Judge AS Sayyad.
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Main accused Vijay Chaudhari was sentenced to five years in jail, while former bank chief manager Praful Mishra was given four years in jail.
Two others, Rajesh Dhanukar and Ganesh Kandu, were sent to jail for three and and two years respectively, while two others were let off by the court for lack of sanction to prosecute them.
As per the CBI, represented by public prosecutor Sandip Singh, Chaudhari and the bank's then chief manager Mishra conspired and cheated the branch of Rs 50 lakh by fraudulently availing overdraft facility after submitting fake, forged government securities in the form of Kisan Vikas Patra (KVP).
Chaudhari opened his account on the basis of bogus documents, while the KVPs, purportedly issued by a post office in Bhiwandi in neighbouring Thane district, on which the overdraft facility was availed were fabricated.
This led to the bank being cheated to the tune of Rs 50 lakh, as per the CBI.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)