Ex-SBI Chief Manager Murthy convicted in fraud case, gets 5 years RI

Bengaluru:  The Special Judge for CBI Cases has convicted BVVSN Murthy, former Chief Manager, State Bank of India, Kumara Park Branch, Bangalore and two others-- D Murugeshan and Ms M Lalitha in a fraud case.

The trio were sentenced to five years Rigorous Imprisonment (RI). The Judge also slapped a fine of Rs 2.5 lakh on each of them, according to a CBI release here today. CBI registered the case on the allegations that Murthy, during the period from July 1999 to February 2000, entered into a criminal conspiracy with other accused, sanctioned and released personal loans to the tune of Rs.106.53 lakh (approx) to around 208 fictitious and non-genuine borrowers on the basis of fabricated and forged Salary certificates, Employment Certificates, NOC’s etc.

After investigation, a chargesheet was filed against the accused in the designated Court on April 7, 2004. The CBI Court found the accused guilty and convicted them.