scorecardresearch
Saturday, Feb 04, 2023
Advertisement

Bengaluru: CBI court convicts man in 19-year-old bank fraud case

According to CBI officials, the court pronounced the convicted, identified as Shyam M Ganglani, to five years of simple imprisonment and a fine of Rs 4 lakh in a bank fraud case registered on July 31, 2002.

Andhra Pradesh, West Bengal bar cbi central bureau of investigationThe Central Bureau of Investigation (CBI) Office in New Delhi (Express Photo by Tashi Tobgyal)

Nearly 19 years after the Central Bureau of Investigation registered a case based on an alleged bank fraud complaint, a designated court in Bengaluru sentenced a man to five years of imprisonment on Wednesday.

According to CBI officials, the court pronounced the convicted, identified as Shyam M Ganglani, to five years of simple imprisonment and a fine of Rs 4 lakh in a bank fraud case registered on July 31, 2002.

CBI officials explained that the case was filed against the then Chief Manager of Canara Bank’s Basavanagudi branch in the city based on a complaint from the bank authorities. “Ganglani along with other accused persons, including the Chief Manager who was the prime accused in the case, cheated in the matter of closing FCNR (Foreign Currency Non-Resident) account deposits by creating forged applications, causing a loss to the extent of Rs 1.34 crore approximately,” CBI sources explained.

Subscriber Only Stories
Anti-science movement is political but medicine also hasn’t conveyed its ...
In Jharkhand’s tribal villages, an online marketplace for local produce
Delhi Confidential: Mansukh Mandaviya gives a shout out to youngest Mitra
Moscow’s proposal to RBI: Set up Russian financial firm in India, w...

Further, the CBI mentioned in a statement that a charge sheet was filed on June 30, 2003 naming four people as accused including Ganglani and three others including the then Chief Manager.

“However, the trial court then convicted the then Chief Manager of Basavangudi Branch and Ganglani while two others were acquitted. The case against the then Chief Manager was later abated as he expired,” the statement read.

First published on: 08-04-2021 at 08:32 IST
Next Story

Bulgarian cave remains reveal surprises about earliest Homo sapiens in Europe

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement
close