Ex-branch manager of state-run bank jailed for 10 yrs, fined Rs 24L for graft

A special CBI court has sentenced a former branch manager of Bank of Maharashtra to 10 years rigorous imprisonment and fined him Rs 24 lakh, and another person to three years imprisonment for fraudulently misappropriating over Rs 2.5 crore.

Shaliwahan Solegaonkar, while posted in different capacities such as clerk, deputy manager and manager of different Bank of Maharashtra branches in Pune, conspired with Rakesh Jadhav and other unknown persons, and fraudulently misappropriated Rs 2,56,15,998 from the bank's funds, a CBI spokesperson said.

The special judge for CBI cases, Pune, sentenced Solegaonkar to undergo 10 years rigorous imprisonment with a total fine of Rs 24 lakh, and Jadhav to three years rigorous imprisonment with a fine of Rs 10,000 under Section 120-B (criminal conspiracy) of the IPC read with 409 of Prevention of Corruption Act, the official said.

The Central Bureau of Investigation (CBI) had registered a case on June 28, 2018 on the allegations that from 2009 to 2017, Solegaonkar, who was the branch manager in five different branches of Bank of Maharashtra at Pune, entered into a criminal conspiracy with Jadhav and other unknown persons and fraudulently misappropriated the money from the bank's funds.

Solegaonkar, while posted in different capacities such as clerk, deputy manager at Sahakar Nagar branch; as deputy manager at Lavale and Lasurne branches; as manager at Hadapsar Industrial Estate and Talegaon Dhamdhere branches transferred various amounts from Bank General Ledger (BGL) account to a savings account opened in the name of Jadhav which was maintained at Sahakar Nagar Branch of Bank of Maharashtra at Pune, the official said.

Solegaonkar transferred the said amounts from the account of Jadhav to his own savings bank accounts maintained at Vadgaon Budruk branch and Sahakarnagar branch of Bank of Maharashtra and thereby misappropriated the funds which were entrusted to him as a banker, according to the CBI.

After investigation, five charge sheets were filed before the special judge against the accused.