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G Senthil Kumar, special judge for CBI cases convicted S Natarajan, officer of Canara Bank, Mudalaipatti, Namakkal and two others for six years according to a CBI statement.
The Anti Corruption Branch of CBI, Chennai registered and investigated a case in RC 05(A)/97 on the allegations that during June 1996 to January 1997 the accused persons Natarajan, P Sekhar of Banagalore, A. Ravi, ex-employee of Canara Bank, P. Ayyavoo of Bangalore and R. Mani , collection agent of Canara Bank, Namakkal hatched a conspiracy to cheat the bank.
According to CBI's release, Sekhar opened an account with Canara Bank, Mudalaipatti,Namakkal with the active assistance of Ravi, Ayyavoo and Mani by producing false identity and address proofs. Further Ravi procured counterfeit out station cheques and got them deposited in the account opened by Sekhar.
"Natarajan, by abusing his official position , in pursuance of the conspiracy, knowing fully about the fake instruments submitted by the co-conspirators, allowed and facilitated the fraudulent credited to the account by the way of showing them as Inter Branch Advices (IBA) from Bangalore and Hyderabad and allowed the withdrawls by self cheques, bearer cheques and account payee cheques. Natarajan also manipulated the bank records accordingly and destructed the cheques".
The accused persons defrauded the bank causing a total wrongful loss of Rs 5.7 crore to Canara Bank and corresponding gain to themselves. After completion of investigation CBI filed charge sheet against the accused persons under sections 120-B r/w 420, 467, 471, 477-A and 201 IPC, section 13(2) r/w 13(1)(d) of PC Act, 1988.
During the trial Ayyavoo expired and charges against him were abated. On completion of trial, the accused persons Natarajan, Sekhar and Ravi were convicted and all the three were sentenced to undergo six years of rigorous Imprisonment. A total fine of Rs 58,000 was also imposed on them. Mani was acquitted from the case . A-4 expired before framing charges.
