Two former Central Bank of India officials convicted for fraud

Three persons, including two former Central Bank of India officials, were sentenced to three years of imprisonment by a CBI court for defrauding the bank to the tune of Rs 122 lakh, the agency said on Monday. A special Central Bureau of Investigation court here sentenced former bank senior manager K. K. Chourasia, former assistant manager Vasant Pawase and Uday Singh Thakur , the managing director of a Bhopal-based construction company in the fraud case.

According to the CBI, the two bank officials had processed, sanctioned and disbursed housing loan to the tune of Rs. 122.48 lakh in the name of 13 Individuals without verifying their credentials including that of the private company. The three were chargesheeted by the CBI for various offences including criminal conspiracy by the CBI and the trial court after convicted them sentenced them to three years of rigorous imprisonment along with fine.