17 years on, SBI's ex-chief manager convicted of cheating

A special judge for CBI cases has convicted a former chief manager of State Bank of India and two others of cheating and criminal conspiracy.

B V V S N Murthy, then chief manager at SBI’s Kumara Park branch in Bengaluru, had entered into a criminal conspiracy with D Murugeshan and M Lalitha, who were running a private firm, and cheated the bank from July 1999 to February 2000.

Murthy sanctioned and released personal loans to the tune of Rs.1.6 crore to 208 fictitious and non-genuine borrowers on the basis of forged salary certificates, employment certificates and NOCs.

The CBI investigated the case and filed the charge sheet against the three men before the special court in 2004. On Wednesday, the court sentenced them to five years’ rigorous imprisonment and fined them Rs 2.5 lakh each.

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