ONE YEAR RIGOROUS IMPRISONMENT WITH FINE OF Rs. 10,000/- TO AN ACCUSED IN A CHEATING CASE

Press Release
New Delhi , 17.09.2012

            The Special Judicial Magistrate, CBI, Ghaziabad has convicted accused Rakesh Bali and sentenced him to undergo one year Rigorous Imprisonment with fine of Rs. 10,000/- each U/s 120-B, 419, 420, 467, 468, 471, 380 and 381 of IPC.

 

            The instant case was registered against the then Manager and another Officer of Punjab National Bank, Shikarpur(U.P) U/s 120-B, 409, 420, 468,471 IPC and U/s 13(2) r/w 13(1)(d) of PC Act. It was alleged that the Manager and other Officer conspired with each other, to misuse blank draft books containing 25 folios for the purpose of cheating the bank and fraudulently transferred funds to different banks in various part of the country.

 

            The investigation disclosed that the private person had instigated other accused persons and hatched a criminal conspiracy during the period 2003-05 with an intention to cheat PNB, Shikarpur Branch to the tune of Rs.1,10,98,000/- by stealing blank draft book from the said bank. The forged bank drafts were prepared which were credited to the various bogus accounts opened in different banks by Rakesh Bali & another accused and a total amount of Rs. 63, 85,000/- was encashed from the said bank on the basis of cheque books and ATM cards. The encashed amount was distributed amongst other accused persons.

 

            After completion of the investigation, CBI had filed a chargesheet on 21.12.2007 against Rakesh Bali and 4 other accused persons U/s 419, 420, 467, 468, 471, 380 and 381 IPC in the Court of Special Judicial Magistrate, CBI, Ghaziabad.

 

            Sh. Rakesh Bali admitted his guilt before the Trial Court. Accordingly, the trial of accused Rakesh Bali was separated. The Court convicted the accused Rakesh Bali.

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