Hyderabad: A special CBI court has convicted former TD MLA K. Venkata Prasad of Kadiri (AP) to five years in jail for cheating the SBI by withdrawing about Rs 4 crore with the help of stolen demand drafts.
The court also convicted SBI, Hussaini Alam branch former assistant manager Narsinga Rao and former Hussaini Alam sub-inspector Venkat Mohan and sent them to three years imprisonment.
The SBI in 2003 had lodged a complaint before the CBI alleging that Narsinga Rao had stolen blank DDs and the former MLA had drawn money from the banks using those DDs.
The CBI charged the trio and another person for cheating the bank and the CBI court after the trial found them guilty. It imposed Rs 5.10 lakh fine on Venkat Prasad, Rs 45,000 on Narsinga Rao Rs 35,000 on Venkat Mohan
