Ahmedabad, Dec 31 A CBI court in Ahmedabad has convicted and sentenced three private individuals to three years’ rigorous imprisonment (RI) along with a fine of Rs 50,000 each in a bank loan fraud case, an official statement said on Wednesday.
The convicted accused are Balmukund Mithailal Dubey, Dharmesh J. Dhairya and Alpesh Ashwinbhai Thakkar, the statement added.
The conviction was pronounced on Tuesday, December 30.
The Central Bureau of Investigation (CBI) had registered the case on December 15, 2009, against Jayesh K. Prajapati and unknown officials of Vijaya Bank.
It was alleged that Prajapati, in conspiracy with unknown bank officials, had fraudulently obtained a housing loan in March 2004 by submitting false and forged salary, employment and property-related documents pertaining to a flat in Jalvihar Society. The loan amount sanctioned was Rs 4.78 lakh.
CBI investigation revealed that Jayesh Prajapati, along with Alpesh Thakkar, Balmukund Dubey and Dharmesh Dhairya, prepared and used forged documents as genuine to secure the loan. The accused also opened fictitious bank accounts to siphon off the loan amount, thereby cheating Vijaya Bank.
The investigation further found that the outstanding amount in the loan account stood at approximately Rs 7,85,109, including unpaid instalments and interest, causing a corresponding wrongful loss to Vijaya Bank.
After completion of the investigation, the CBI filed a charge sheet on December 31, 2010, against Jayesh Keshubhai Prajapati, Balmukund Mithailal Dubey, Dharmesh J. Dhairya and Alpesh Ashwinbhai Thakkar, all private persons.
Following the trial, the court convicted and sentenced the accused accordingly. The case against Jayesh Keshubhai Prajapati has been separated, as he has been absconding since the investigation.
The CBI actively investigates bribery and fraud cases, leading to convictions of public servants and private individuals, with punishments including imprisonment and hefty fines.
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