A special CBI court in Chennai convicted a man of cheating Indian Bank of Rs 1.12 crore and sentenced him to seven years rigorous imprisonment, besides imposing a fine of Rs 14 lakh on him.
R Rajendran was booked under sections of the Indian Penal Code pertaining to criminal conspiracy, cheating and forgery in the bank fraud case, a CBI spokesperson said today.
"The CBI investigation revealed that Rajendran had cheated Indian Bank, South Usman Road, T Nagar Branch, Chennai and fraudulently opened 14 trade finance accounts and one Annapoorna Arogya account in the name of different parties without their knowledge or consent so as to divert the money from these accounts to a common account and misappropriated the amount," the spokesperson said in a statement.
The statement said he caused a wrongful loss to the Indian Bank to the tune of Rs 1.12 crore.
