Designated court sentences seven accused including then assistant manager of UCO Bank and then officer of Allahabad Bank to 03-07 years’ rigorous imprisonment with combined fine of Rs8.5 lakh in two separate bank fraud cases
FinTech BizNews Service
Mumbai, March 29, 2024: The Special Judge, CBI Cases, Lucknow has sentenced seven accused to Rigorous Imprisonment (RI) of 03 to 07 years along with combined fine of Rs8.3 lakh in two separate bank fraud cases of Rs. 24.28 crore (approx), as per the press release issued by the CBI on 28 March, 2024.
In the first case, the Special Judge, CBI cases, Lucknow sentenced accused Shri Radha Raman Bajpai (then Officer, Allahabad Bank) to 7 years’ RI with fine of Rs. 2 lakh; Shri Rikesh Kumar Shukla to 05 years’ RI with fine of Rs. 1.5 lakh and three accused namely Shri Gopi Nath Tandon (then Spl. Assistant Allahabad Bank), Shri Sanjay Somani & Shri Deepak Somani, to 3 years’ RI with fine of Rs. One lakh each, in bank fraud case related to loss caused to the Allahabad Bank.
CBI had registered a case on 29.04.1994 against Shri Sanjay Somani and others on the allegations that during the period 27.03.1992 to 16.01.1994, Shri Sanjay Somani entered in conspiracy with others and defrauded Allahabad Bank, Pheelkhana Branch, Kanpur to the tune of Rs. 22.70 crore(approx). It was alleged that accused caused wrongful loss to the Allahabad Bank and corresponding wrongful gain to themselves.
Chargesheet was filed by CBI on 29.05.1998 in the case. After trial, the Court found the five accused guilty and sentenced them accordingly.
In the second case, the Special Judge, CBI cases, Lucknow, sentenced Shri K K Mehta, the then Asst. Manager, UCO Bank, Halsey Road Branch, Kanpur to RI of 5 years’ with fine of Rs. 1.6 lakh and Shri Sunil Kumar Agarwal (private person) to RI of 03 years along with fine of Rs. 20,000/- in bank fraud case related to wrongful loss caused to the UCO Bank.
CBI had registered the instant case on 28.09.2005 against the officers and staff of UCO Bank, Halsey Road Branch, Kanpur on the allegations that during April 2003 to April 2005, accused misappropriated an amount of Rs. 1.58 Crore (approx) by showing false remittances to UCO Bank, Armapur Currency Chest Branch, Kanpur. It was alleged that the accused caused wrongful loss to UCO Bank and corresponding wrongful gain to themselves.
CBI filed chargesheet on 30.03.2007. After trial, the Court convicted both accused guilty and sentenced them accordingly.
