Former bank asst manager gets 5 yrs RI in fraud case

A former public sector bank official was convicted by a special CBI court here today in a fraud case and sentenced to five years rigorous imprisonment.
Tilikesh S Swarnakar, former assistant manager of Indian Bank's Harbour Branch in the city, was also slapped with a fine of Rs five lakh by the court of CBI cases Additional Special Judge K Venkatasamy, an official release said.
Investigations revealed that Swarnakar used his position at the bank and allegedly swindled and transferred Rs 35.71 lakh between 2006 and 2009 to the accounts of his wife, Amita Soni, and other individuals -- V Mangalam, Nitin Pagmar, Mohana Pandya Rajan, it said.

"He caused a loss of Rs 2.70 crore to the bank by way of interest," the release said, adding that after completion of investigation, a charge sheet was filed against him.
While the four individuals were acquitted, Swarnakar was convicted, it said.