FOUR TO TEN YEARS RIGOROUS IMPRISONMENT TO THEN BRANCH MANAGER OF ORIENTAL BANK OF COMMERCE AND FOUR OTHERS IN A FRAUD CASE

Press Release
New Delhi, 28.03.2017

      The Special Judge for CBI Cases, Chennai has sentenced Shri K.Sanjeeva Shetty, then Branch Manager, Oriental Bank of Commerce, Yelahanka Branch, Bangalore; Shri Shabir Ahmed, then Assistant Commandant, Karnataka State Reserve Police & a private person Shri T.Hemanth Alva, all to undergo five years Rigorous Imprisonment; Shri S.A.Ravi (private person) to undergo 10 years Rigorous Imprisonment and another private person Shri Abid Khan to undergo four years Rigorous Imprisonment. A total fine of Rs.5,10,000/- have been imposed on them.

       CBI registered the case against the accused on the allegations that during the year 2000, the accused persons entered into a criminal conspiracy and made an attempt to defraud Oriental Bank of Commerce, Overseas Branch, Chennai to the tune of Rs 9,70,90,000/- (approx) with fictitious transfer payment order. The said transfer payment order was sent with foged signatures of the officials of OBC, Yelahanka New Town Branch, Bangalore to OBC Overseas Branch, Chennai against fictitious import shipping bills of M/s Stan Plus Holdings, Malaysia through BSN Commercial Bank, Malaysia. The bills were for the shipment of Kamino machines with accessories for the equivalent value of US $ 2221900 in favour of M/s The West Pavillion, Hunasanarahalli, Near NVIT, Devanhalli Road, Bangalore. After investigation, a chargesheet was filed.

      The Trial Court found the said accused guilty and convicted them.


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