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Ex-Branch Manager of Central Bank convicted in fraud case

Thursday - July 18, 2019 1:56 pm , Category : BUSINESS
Chennai, July 18 (IANS) A special court hearing CBI cases in Coimbatore sentenced K.Sridhar, former Branch Manager, Central Bank of India and two others in the Rs 1 crore bank fraud case, the investigating agency said on Thursday.
In a statement issued here, the Central Bureau of Investigation (CBI) said Sridhar, former Branch Manager, Ooty, retired Lt. Colonel S.K. Sundaram and R.Sanjeevi, a private person, were convicted and sentenced to three years rigorous imprisonment each.
The CBI had investigation and filed a charge sheet against the three under the Prevention of Corruption Act, 1988 on the allegation that they entered into a criminal conspiracy and cheated the Central Bank of India in the matter of third party loan against Foreign Currency Non-Resident (FCNR) deposit with fake documents without the knowledge of the depositor.

--IANS vj/mag/