CBI court sentences officer to 10-year jail for cheating insurance company

The case dates back to 2013-14, when Pradeep as the employee of the insurance company had transferred funds to multiple accounts to individuals in North Eastern States for encashment of his lottery prize that he ‘won’ in England.

Hubballi: The Central Bureau of Investigation (CBI) Special Court has convicted T Pradeep, former administrative officer (Accounts) of Oriental Insurance Co, Ltd, Dharwad for misappropriating amount of Rs 5.30 crore during the year 2013-14.

CBI Special Judge Zareena, on Monday, along with imposing a fine of Rs 52 lakh on the convict has sent him to ten years of rigorous imprisonment for criminal breach of trust, cheating, forgery and abusing of official position as a public servant. The CBI had filed a chargesheet against him in 2015.

The case dates back to 2013-14, when Pradeep as the employee of the insurance company had transferred funds to the tune of Rs 5.30 crore to multiple accounts to individuals in North Eastern States for encashment of his lottery prize that he ‘won’ in England.

Cyber fraudsters had called him in 2013 stating that he had won a lottery in England and to encash it, he had to transfer certain amount. Pradeep initially transferred his saving funds and later borrowed money from his friends and relatives to get the prize money.

He was made to believe that the prize has arrived at Delhi and he had to transfer further funds to release the amount.

Between 2013 and 2014 he using his personal net bank facility transferred office funds to accounts that was not connected to the business of the company. To cover-up his illegal activities, the convict manipulated and altered the monthly bank statements of the company’s account.

The FIR filed by the company stated that he had fraudulently misappropriated the funds of the company to the tune of Rs 5.3 crore by violating the laid down guidelines.

Senior Public Prosecutor B R Shivananda Perla, who represented CBI, produced 66 witnesses and 350 documents to prove the allegations.