CBI Court Jails Ex-Bank of India DGM, 5 Others for 10 Years in Fraud Case

A CBI court in Chennai on Wednesday sentenced six persons, including a former deputy general manager of Bank of India and revenue officials from Sholinganallur and Pazhavanthangal, to 10 years of rigorous imprisonment in connection with a Rs 238.97 lakh bank fraud case. The court also imposed a collective fine of Rs 2.70 crore on the convicts.

Those convicted include N Venkatachalam, the then deputy general manager of Bank of India; M Sivakumar, a record clerk at the Sholinganallur taluk office; T Dasarathan, village administrative officer (VAO) of Pazhavanthangal; M Manichavelu, a VAO with the Tamil Nadu government; and private individuals OP Thamarai Poo and P Thandapani.

The Central Bureau of Investigation registered the case on May 19, 2010, following a complaint lodged by Bank of India. According to the prosecution, prime accused E Muthuswamy and others conspired with bank officials to secure credit facilities fraudulently by submitting forged and fabricated documents, causing a loss of Rs 238.97 lakh to the bank.

The CBI filed a chargesheet on December 28, 2011, naming 12 accused persons, including five public servants and seven private individuals.

During the course of the trial, four of the accused—E Muthusamy, A Vincent, K Srikanth, and M Jothi—died, leading to the abatement of proceedings against them. Another accused, Lavanya, was acquitted by the court. The case concerning suspended senior draftsman V Umapathy of the Land and Survey Department was split up.