CBI court sentences ex-Syndicate Bank manager to 7 yrs of imprisonment

The Central Bureau of Investigation (CBI) court sentenced a former Syndicate bank manager to seven years of Rigorous Imprisonment (RI) in a bank fraud case.

The Additional District Judge for CBI Cases sentenced former Syndicate bank manager Gunaseelan Bank to undergo seven years of Rigorous Imprisonment with a fine amounting to Rs 75,000 and three years of RI to fourteen others involved in the fraud case.

"Paul Johnson and A. Kumaresan (private persons), both to undergo three years RI with a fine of Rs. 20,000 each; Jesuvin Febi to undergo three years RI with a fine of Rs.30,000; R. Mahalingam, C. Arumughan, Raja Thomas, R. Murali, R. Thirupati, G. Thangarajan, R. Vadamalai, A. Jesuraj, Sharun Rashit, P. Theradimuthu & S. Sundaresan, all to undergo three years RI with fine of Rs. 60,000 each in a bank fraud case," read an official press release from the CBI.

CBI had registered a case on October 1, 2010, against the accused on a complaint from Syndicate bank, Regional Office, Coimbatore.

"It was alleged that private persons conspired with public servants to cheat Syndicate Bank, Dindigul Main Branch. The public servant had sanctioned and released housing loans to the tune of Rs.155.79 Lakh to the ineligible borrowers. The loan accounts became NPA to the tune of Rs.162.72 Lakh," it read.

After an investigation, a chargesheet was filed on May 3, 2012, against the accused.

"The Trial Court found the said accused guilty and convicted them," it read.