3 Convicted for Swindling Rs 1.99 cr via Fake Account

A special court trying the CBI cases has sentenced three persons including a bank Dispatch Clerk to undergo a rigorous imprisonment for 7 to 10 years as they were found guilty of swindling `1.99 crore through a fake account.

According to prosecution, S Sudalayandi, the dispatch clerk at SBI’s Vadiveeswaram branch in Nagercoil hatched a criminal conspiracy along with Rajkafur alias Nazar and S Suresh alias Siva of Sivakasi to misappropriate the bank’s money in 2002.

With the help of the duo, Sudalayandi opened a current account under a fictitious name in SBI’s Perumalpuram branch in Tirunelveli and transferred it to Vadiveeswaram where he was working.

As many as 46 cheques drawn from the banks including UCO, Indian Bank, Mumbai, and Canara Bank, Bengaluru, were deposited in the fake account. Sudalayandi received the cheques sent by other account holders through post, based on which he had prepared forged payment advices for encashment. By this way, he credited a sum of `1.99 crore in the fake account from Sept 6, 2002 to Dec 30, 2002, the prosecution submitted.

Finding them guilty, the CBI special court awarded 7 years RI to Sudalayandi and Rajakafur and 10 years jail to Suresh. The judge also slapped a total fine of `10.9 lakh on them.


Source: The Indian Express