CHENNAI: A special court for CBI cases in the city has convicted two people, including a chief
manager
of Union
Bank
of India, in a
cheating
case and sentenced them to four years rigorous imprisonment. They were also fined Rs 10 lakh.
XI additional special judge S Jawahar passed the order after concluding the trial of the case registered in 2007.
According to the prosecution, M Arjunan, then chief manager of the bank, and M A Bala Sundara Vinayagam of Sri Venkateswara Imports and Exports entered into a conspiracy and defrauded the bank of Rs 1.6 crore.
The issue came to light when the bank audited the branch and found the fraudulent transactions and filed a case with the CBI.
Anti-corruption branch of the CBI charged the duo under Sections 120-B r/w 420, 468, 471 of the Indian Penal Code (IPC) and sections 13(2) r/w 13(1)(d) of the Prevention of Corruption Act. Convicting the duo, the judge imposed Rs 3 lakh penalty on Arjunan and Rs 7 lakh on Vinayagam.