Court convicts bank employee in Rs 1.35 crore fraud case

A city court today convicted an employee of Central Bank of India's Charminar branch in a 2008 case of defrauding the bank to the tune of Rs 1.35 crore.
The court today found Srinivas Sahu guilty of the fraud and sentenced him to three years of rigorous imprisonment and slapped a fine of Rs 25,000 on him.
He was immediately taken into custody following the court directive and sent to jail, according to a senior police official of Central Crime Station (CCS)-- a wing of Hyderabad police.
Sahu, who was working as a computer clerk in the bank, collected login IDs and passwords of senior level bank officials, pertaining to the bank's internal accounts and transferred funds from it to other bank accounts that were subsequently withdrawn by him, the CCS official said.

Sahu committed the fraud over a period of time and a case was registered by the CCS police in 2008 following a complaint by the bank authorities, he said.
The court had earlier ordered attachment of properties, including flats besides Rs 1.35 crore in cash, 700 grams of gold belonging to Sahu.