On Tuesday, the third additional special judge convicted former branch manager of Andhra bank for causing wrongful loss to the bank and also sentenced him for 2 years of strict imprisonment.
In this case, CBI judge G Satya Prabhakara Rao imposed Rs 12,000 of fine on the banker.
As per the CBI official release, bank manager Velpula Vijay Kumar and a data entry operator T. Tirupati Rao working in the same bank, during 2006 they entered into a criminal plan to cheat Andhra Bank in Markondaputti in Makkuva Mandal of Vizianagaram.
The duo misappropriated the FDR amounts deposited by the director of M/s Susee Sea Foods Private Limited.
Both accused dishonestly and illegally obtained a wrongful gain of Rs 30.10 lakh by withdrawing money through the unauthorized opening of the current account by the bank manager in the name of the M/s Susee Sea Foods Private Limited firm to causing wrongful loss to the bank.
After completion of the trial, the court declared that the bank manager as a convict under sections 409, 418, 419, 420, 468,477 (A) of IPC and section 13 (2) read with 13 (1) (d) of Prevention of Corruption Act 1988 and Tirupati Rao was declared as an innocent though charges leveled against him.