11 people sentenced to five years rigorous imprisonment for bank fraud

The Special Judge, CBI cases, Jabalpur has convicted 11 people, including three officials of Central Bank Home Finance Limited, accused of causing a loss of Rs.85.75 Lakh to the firm, and sentenced them to undergo five years Rigorous Imprisonment.

Those convicted included the then Branch Managers S.C. Jharia and B.S. Sullere, and the then Junior Officer S.S. Solanki, along with eight others, who were imposed heavy fines ranging from Rs. 5000 to Rs. 2, 90,000.

The CBI had filed nine separate charge sheets on September 29, 2007 before the Special Judge, Jabalpur against Jharia, Sullere, Solanki, of Central Bank Home Finance Limited and 12 other borrowers and private builders, alleging that during the period 2002-2003, the accused were involved in criminal conspiracy and misuse of money.

A loss of approximately Rs.85.75 Lakh was caused to Central Bank Home Finance Limited, Jabalpur.

The Trial Court found 11 accused guilty and convicted them.