Ex-manager gets 5-year RI for Rs 3-cr bank fraud

A CBI Special Court on Tuesday awarded a five-year rigorous imprisonment (RI) sentence to a former bank manager of Sarv Haryana Gramin Bank, JPN Sharma, in connection with the Rs 3.02-crore fraud. He has also been fined Rs 8.5 lakh.

The manager’s aide, Ravinder Singh, a cop, was sentenced for three years of RI and fined Rs 1 lakh.

Had siphoned off funds after opening fake accounts

The scam took place during the the convict’s tenure as Sarv Haryana Gramin Bank’s Murthal (Sonepat) branch manager between June 2010 to August 2013.

According to CBI, Sharma opened fake accounts under Kisan Credit Card scheme and siphoned off Rs 3.02 crore.

CBI counsel Harsh Mohan Singh submitted that Sharma cheated the bank by fraudulently sanctioning and disbursing loan on the basis of forged and fabricated documents in 98 Kisan Credit Card (KCC) loan accounts and also by using ID and passwords of other bank officials.

He added that Sharma, in connivance with Ravinder Singh, withdrew the amounts from the accounts of 98 account holders for personal gain, thereby causing wrongful loss to the bank.

The fictitious KCC loan accounts, according to the counsel, were opened by forging signatures of account holders as well as signatures of guarantors. The money was transferred in Ravinder Singh’s account as well those belonging to his relatives.

Following a bank inquiry, Sharma had agreed to return Rs 40 lakh-Rs 50 lakh. The matter was handed over to CBI, which registered an FIR in 2015.

A chargesheet against Sharma and Singh was filed in 2016 and the charges were framed on February 22, 2017.

Earlier on October 28 this year, CBI special judge convicted Sharma under Prevention of Corruption Act, cheating, forgery and criminal conspiracy. Singh was convicted for criminal conspiracy and cheating.