New Delhi, Jun 26 (UNI) A special CBI court has convicted a bank official and three members of a private firm for cheating State Bank of India (SBI) to the tune of Rs 20 lakh in 1988.
The CBI court at Tiz Harazi sentenced SBI Field Officer H V Vaid, and Avinash Kaur, Nirmal Singh Grewal and Hardeep Singh Grewal of Delhi-based M/S Cine Friends Associates Pvt Ltd to two years rigourous imprisonment and a fine of Rs 70,000 each for cheating the public sector bank.
CBI investigations, which began in 1990, revealed that the accused cheated the bank by opening fictitious accounts and transferred funds by removing the cheques received for payments in clearing. A chargesheet was filed in 1992 against the accused and SBI branch manager R K Dutta who died during the trial.
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