Rs 1.23 crore fraud: CBI secures 2-year jail term for ex-bank manager

Dehradun, Sep 30 A Special CBI Court sentenced a rural bank manager in Uttarakhand to two years’ imprisonment for a Rs 1.23 crore fraud committed in 2010, an official said on Tuesday.

The Special Court sentenced Laxman Singh Rawat, then manager of Uttarakhand Gramin Bank, Dehradun, to imprisonment with a fine of Rs 15,000, said a CBI statement.

The court, on Monday, also held five private persons guilty in the case and sentenced them to one year's imprisonment with a fine of Rs 10,000 each. The five were identified as: Makan Singh Negi, Kalam Singh Negi, Sanjay Kumar, R.C. Arya and Meena Arya.

The Central Bureau of Investigation (CBI) registered the case on February 24, 2010, based on a complaint of the Chief Manager (Vigilance), Uttarakhand Gramin Bank, Head Office, Dehradun, against the accused manager Rawat.

The probe agency’s investigation revealed that Rawat generated a debit entry of Rs 1.23 crore by debiting the head office account for the Prem Nagar branch and crediting it to the six different loan accounts belonging to private persons/entities.

After the investigation, the CBI filed the charge sheet in the case on April 1, 2011, against Rawat and the five other accused.

In a similar case involving a bank manager, a Special CBI Court in Uttar Pradesh’s Ghaziabad sentenced a Union Bank of India branch manager to four years’ imprisonment with a fine of Rs 30,000 in a Rs 40 lakh bank fraud case on September 25.

According to the CBI, it registered the case on December 14, 2010, against Manoj Srivastava, the Branch Manager of the bank's SSI Branch Noida and others on the allegation of bank fraud.

“Srivastava while posted and functioning as Branch Manager, Union Bank of India, SSI Branch, Noida, from May 2007 to June 2009, entered into criminal conspiracy with Om Prakash Maheshwari, Proprietor M/s Pioneer Enterprises, Rashmi Srivastava, private person, Prithvi Raj Saxena, Chartered Accountant and Manish Kothari, private person and sanctioned Rs 40 lakh on September 27, 2008 to the said parties based on fake and forged documents causing wrongful loss to the lender bank," a CBI statement said.

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