Middle East

7-year RI for former SBI staff in fraud cases

New Delhi: The Hyderabad Special Central Investigation Bureau (CBI) court has sentenced former State Bank of India (SBI) managers to seven years’ imprisonment (RI) in connection with the fraud case, officials said Thursday.

An additional judge of CBI Cases, who ruled Praveen Singh, then SBI branch chief of the Research Center Imarath Branch in Telangana, also fined him two rupees.

CBI filed a proceeding against Praveen Singh in April 2010. This is alleged that the accused attempted a plot with an unknown person to trick SBI into prematurely canceling the special period deposit receipt and embezzling the funds into his account. To an account opened with a fictional name.

The accused diverted a total of 4 rupees or more.

SBI suffered a great loss as the accused attempted a plot.

However, the bank has detected a fraud. It began a departmental investigation to investigate the problem, after which the bank decided to approach a federal investigative agency.

The CBI has recorded more than 100 testimonies to collect evidence against the accused.

The investigative body has collected a large number of documents of evidence against the accused. After recording various statements and collecting digital and written evidence, the agency also included a legal opinion on the invoice before the invoice was filed.

https://www.siasat.com/7-year-ri-to-former-sbi-official-in-cheating-case-2250583/ 7-year RI for former SBI staff in fraud cases

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