CBI Court Sentences SBI Employee to 2 Years RI in Bank Fraud Case in Hyderabad
Hyderabad: The CBI court in Hyderabad sentenced V. Chalapathi Rao, a computer operator at SBI’s Chandulal Baradari Branch, to two years rigorous imprisonment (RI) with a fine of Rs 36,000 in a bank fraud case.
The Central Bureau of Investigation (CBI) registered the present case against Chalapathi Rao and three others on May 1, 2002, on allegations that they had entered into a criminal conspiracy in 1996 and 2000 with PP Krishna Rao, the then Branch Manager, SBI, Chandulal Baradari Branch, and two private accused Viraja and Kaleem Pasha, wife of Chalapathi Rao.
They made financial gains of Rs.50 lakh in approval and release of large purchase loans on the basis of fake and fabricated documents. Following completion of the investigation, three charges were filed on December 31, 2004.
Since Chalapathi Rao is absconding since 2005, the cases filed against him are separate CC No. Split into 08/2006 and 09/2006. The cases of the other defendants were concluded before. After a painstaking effort, Chalapathi Rao was tracked down in Tirunelveli, Tamilnadu, and was captured on August 4, 2024, while trying to flee the country under a different name.
The CBI court, which conducted a speedy hearing, convicted and sentenced the accused on Friday.
