Vizag: Ex-Bank Clerk, Aide Get 5-Year Jail in ₹1.71 Crore Fraud Case

News:
A special Central Bureau of Investigation (CBI) court in Visakhapatnam has convicted and sentenced two persons in a bank fraud case involving misappropriation of over ₹1.71 crore.

The court on March 16 sentenced Vempadapu Santhoshi Ramu, former Clerk-cum-Cashier of Andhra Bank at Cheepurupalli in Vizianagaram district, and private individual Mahanthi Ramana to five years of imprisonment. The court also imposed a total fine of ₹1,71,42,000 on the accused.

According to the CBI, the case was registered on June 13, 2018, alleging that the bank official entered into a criminal conspiracy with the co-accused and misappropriated ₹1,71,41,162. The amount was entrusted for deposit into the account of the Cheepurupalli Rural Electric Co-operative Society Ltd, which is responsible for collecting electricity charges from consumers in remote areas of the district.

After completing the investigation, the CBI filed a chargesheet on January 10, 2019. Following the trial, the court found both accused guilty of criminal breach of trust and misappropriation, and sentenced them accordingly.