Ex-Bank Manager Sentenced in Two-Decade-Old Fraud Case

A former chief manager of the Bank of India, Jeevangine Srinivasa Rao, was convicted by a special CBI court for committing fraud. Rao was accused of orchestrating a significant financial scam, leading to a loss of Rs 80 lakh for the bank. He was sentenced to a three-year imprisonment and fined Rs 1.5 lakh.

A former chief manager of the Bank of India has been sentenced to three years in prison for his role in a two-decade-old fraud case. Jeevangine Srinivasa Rao was also fined Rs 1.5 lakh by a special CBI court.

The Central Bureau of Investigation accused Rao of facilitating a financial loss of Rs 80 lakh for the bank by assisting a beneficiary to secure fraudulent loans against forged collateral.

The case was registered on October 30, 2003, after which a thorough investigation led to Rao's conviction for multiple charges, including cheating, using forged documents, and criminal misconduct under the Prevention of Corruption Act.