CBI court in Ahmedabad awards former banker 7-year jail, Rs 15 lakh fine for fraud
During trial, more than 47 prosecution witnesses were examined and over 152 documents/ exhibits were relied upon, in support of the charges against the accused.
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The CBI had registered an instant case on March 16, 2004 against Mehta and others.A Special Judge at the CBI court in Ahmedabad Friday sentenced Kirtikumar Dhirajlal Mehta, former special assistant at State Bank of Saurashtra, Darbargadh Branch in Bhavnagar, to 7-year rigorous imprisonment in a bank fraud case. A fine of Rs 15 lakh was also imposed on him.
The accused was held guilty for criminal breach of trust, cheating, forgery of valuable security, forgery for the purpose of cheating, using forged document as genuine and criminal misconduct for cheating the State Bank of Saurashtra and causing wrongful loss to the tune of Rs 95,94,004 to the government exchequer, a CBI statement said Friday.
The CBI had registered an instant case on March 16, 2004 against Mehta and others. It was alleged that Mehta, while working in the personal banking division of the bank, illegally siphoned off funds through staff additional housing loan accounts/applications, allegedly received from bogus/non-existent bank employees.
It was also alleged that such staff additional housing loans and other loans were disbursed to bank staff through Personal Banking Division of the bank’s Darbargadh Branch in Bhavnagar. From the last quarter of 1995 onwards, staff additional housing loans ranging from Rs 2.80 lakh to Rs 4.40 lakh had allegedly been disbursed in the name of several employees.
After investigation, the CBI filed a chargesheet on December 26, 2005 that stated that Mehta, during 1992 to 2004, in the capacity as a public servant, had committed the offence of criminal misconduct and in the pursuance of the same had cheated the bank by preparing fraudulent documents under the scheme for additional housing loans to the bank staff, under fictitious/non existing names and thereby caused wrongful loss to the bank to the tune of Rs 95,94,004 and corresponding gain to himself.
During trial, more than 47 prosecution witnesses were examined and over 152 documents/ exhibits were relied upon, in support of the charges against the accused.
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