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Ex-banker gets 7 yr RI in fraud case

Press Trust of India  |  Hyderabad 

A here today sentenced a former of a nationalised to seven years rigorous imprisonment for siphoning off Rs 3.6 crore in 2012.

The court convicted S Satyanarayana, then of of India in Attapur branch here and sentenced him to seven years rigorous imprisonment after he was found guilty under IPC section 409 and under relevant sections of Prevention of Corruption Act, a release from CBI said.

was also convicted under various IPC sections and sentenced to 5 years and three years rigorous imprisonment respectively.

The court also slapped a total fine of Rs 1,55,000 on him.

All the sentences shall run concurrently.

The period of remand in judicial custody, during pre-trial and trial state, if any shall be given set off, the release said.

The case was registered on September 24, 2012 against

According to prosecution, the accused fraudulently and dishonestly sanctioned three fictitious loans against two TDRs (Troubled Debt Restructuring) in the name of AP Diary Development Cooperative and and siphoned off an amount of Rs 3.60 crores, thereby causing corresponding loss to the bank, the CBI release added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 09 2018. 22:05 IST
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