SEVEN YEARS RIGOROUS IMPRISONMENT WITH A FINE OF Rs. ONE LAKH TO THE THEN ASSISTANT, STATE BANK OF INDIA, FOR CHEATING THE BANK

Press Release
New Delhi , 11.02.2013

            Addlitional Special Judge for CBI cases, Visakhaptnam has convicted Shri Koti Brahmaiah, the then Assistant (Accounts & Cash), State Bank of India, Kanigiri Branch, Kanigiri, Prakasam District U/s 420, 468 & 471 IPC and Sec. 13(1)(d) r/w 13(2) of PC Act, 1988 and sentenced him to undergo Rigorous Imprisonment for 7 years with a total fine of Rs.1,00,000/-.

 

            CBI investigation revealed that that during the period from 2000 to 2003, Shri K. Brahmaiah while working as Assistant, State Bank of India, Kanigiri Branch, Prakasam District by abusing his official position, falsified the account books of the said branch by posting fictitious credits and obtained wrongful gain for himself by withdrawing money to the tune of Rs.40,28,953/- and by obtaining DDs in favour of share brokers / share broking firms to purchase shares in his name and in the name of his wife. Thus, the accused caused a wrongful loss of Rs.40,28,953/- to the State Bank of India, Kanigiri Branch and corresponding wrongful gain to himself.

 

            After conducting the regular trial, the Court found the accused person guilty and convicted him.

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