A special CBI court in Chennai has sentenced a former Deputy General Manager (DGM) of the Bank of India, along with five others, to 10 years of rigorous imprisonment. This ruling stems from a bank fraud case involving approximately Rs 2.39 crore. Among those sentenced are three employees of the Tamil Nadu government, highlighting the extensive nature of the fraud.
Those convicted are N. Venkatachalam, a former deputy general manager of Bank of India; M. Sivakumar, who worked as a record clerk at the Sholinganallur taluk office; T. Dasarathan, then village administrative officer at Pazhavanthangal; and M. Manichavelu, a former village administrative officer with the Tamil Nadu government. The two private individuals sentenced in the case are O.P. Thamarai Poo and P. Thandapani. The investigators had alleged that the principal accused E. Muthuswamy, and others conspired with bank officials to divert the lender’s funds.
The case was registered by the CBI on May 19, 2010, following a complaint from the Bank of India. The transactions allegedly caused Bank of India a loss of Rs 238.97 lakh. After completing its investigation, the CBI filed a charge sheet on December 28, 2011, against 12 people.
The accused dishonestly obtained various credit facilities from the bank by submitting false and fabricated documents, according to the prosecution.
