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Bank officials gets one year RI in fraud case

Press Trust of India  |  Chennai 

Two officials of a public sector bankwere today sentenced to one-year rigorous imprisonment by aCBI court here for committing a fraud on the bank and causing a loss of Rs 18 lakh in 2005-06.

Additional Special Judge for CBI, Sengottaiyan, convictedCanara Bank, Nungambakkam branch, (Credit) Manager, Ammaiyappan and its Chief Manager, K Srinivasan, besides the Managing Director of Dhanush Technologies Ltd, AV Srinivasan, and sentenced all of them to one year rigorous imprisonment.

Investigation revealed that the trio had along with a fewothers entered into a criminal conspiracy and cheated the bank.

Ammaiyappan, by abusing his official position, processedpersonal loan applications of nine "fictitious" employees of Dhanush Technologies.

Chief Manager K Srinivasan sanctioned the nine personal loans of Rs 2 lakh each under Can Budget scheme, causing a loss of Rs 18 lakh to the bank, it said.

CBI filed a charge-sheet against the accused and, on completion of the trial, the CBI Court sentenced them and also imposed a fine of Rs 30,000 each on the three, a CBI release said.

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First Published: Wed, April 08 2015. 02:22 IST
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