Hyderabad: The special court for CBI cases on Tuesday convicted former minister Mohammed Shakeer and former TD legislator K. Venkata Prasad in a fake bank documents case dating back to 1996.
The court also convicted the then manager of Punjab National Bank, Chenna Reddy, and bank employee C. Uday Kumar in the case and acquitted one of the accused, Bhupal. Three others accused in the case Dinesh Kumar, Sunil Kumar and Jagannadham, died during the pendency of the case.
All the eight persons were involved in the siphoning off of 93 DDs from Punjab National Bank, Sanathnagar branch, and using them purchase 83 kg gold at Keerthi Jewellers and Umed Jewellers in Mumbai.
The DDs turned out to be fake when presented at the bank for realisation, following which a CBI inquiry was initiated. The value of the loss was put at '10 crore.
During the inquiry, CBI found the eight persons including Shakeer, minister for forests in N.T. Rama Rao Cabinet, guilty. The court sentenced him to five years in jail and a fine of Rs 5 lakh.
Venkata Prasad, who is TD incharge of Kadiri in Anantapur, was sentenced to seven years in jail and a fine of Rs 13 lakh. Bank manager Chenna Reddy was sentenced to five years in jail and Rs 3 lakh fine.
Prasad had served as MLA from Kadiri in 2009 and was defeated in 2014 by YSRC candidate Attar Chand Bhasha who joined the TD. Prasad was a close aide of TD legislator Paritala Ravindra, who was assassinated. Prasad, who was taken into custody by the police said he would appeal the verdict in the High Court
