An ex-manager of State Bank of India branch at Alangudi in Pudukottai district of Tamil Nadu has been sentenced to four years rigorous imprisonment in a bank fraud case.
The Central Bureau of Investigation (CBI) has issued a press release from New Delhi on November 6th 2024 giving full details about the case and how the central agency had pursued this case in the designated court.
The Special Judge for CBI cases in Madurai has sentenced Y.Kiran Babu, then manager of SBI-Alangudi branch in Pudukottai district in Tamil Nadu, to 4 years RI with a fine of Rs.3.7 lakhs in the bank fraud case, the press release said.
The Central Bureau of Investigation had registered an instant case on 31st December 2018 against the accused including Y.Kiran Babu (then manager of SBI Alangudi branch) on allegations that the accused started transferring amounts in tranches to the bank account of his wife from December 2016.
“In order to avoid detection, he had split the amount into smaller tranches while transferring…by debiting the same from Branch General Ledger (BGL) account which is meant for passing internal accounting entries without direct impact on normal accounts or transactions of customers. In this criminal conspiracy, Y.Kiran Babu misused his official position and misappropriated Rs.4,94,70,606/- debited from BGL account maintained at SBI-Alangudi and was transferred to hie wife’s bank accounts at various banks,” the CBI press release informed.
After completion of investigation, a charge-sheet was filed by the CBI against the accused on 24th September 2019, and now after completion of trial, the court held the accused guilty and sentenced him accordingly, the press release said.
The Central Bureau of Investigation (CBI) has issued a press release from New Delhi on November 6th 2024 giving full details about the case and how the central agency had pursued this case in the designated court.
The Special Judge for CBI cases in Madurai has sentenced Y.Kiran Babu, then manager of SBI-Alangudi branch in Pudukottai district in Tamil Nadu, to 4 years RI with a fine of Rs.3.7 lakhs in the bank fraud case, the press release said.
The Central Bureau of Investigation had registered an instant case on 31st December 2018 against the accused including Y.Kiran Babu (then manager of SBI Alangudi branch) on allegations that the accused started transferring amounts in tranches to the bank account of his wife from December 2016.
“In order to avoid detection, he had split the amount into smaller tranches while transferring…by debiting the same from Branch General Ledger (BGL) account which is meant for passing internal accounting entries without direct impact on normal accounts or transactions of customers. In this criminal conspiracy, Y.Kiran Babu misused his official position and misappropriated Rs.4,94,70,606/- debited from BGL account maintained at SBI-Alangudi and was transferred to hie wife’s bank accounts at various banks,” the CBI press release informed.
After completion of investigation, a charge-sheet was filed by the CBI against the accused on 24th September 2019, and now after completion of trial, the court held the accused guilty and sentenced him accordingly, the press release said.
See billi (cat) ke bhi khushi ke aansu nahi rukk rahe. Translation: Cat is also laughing and crying and tears are unstoppable.
