Bank manager sentenced to 4 years for Noida loan fraud


Daijiworld Media Network - New Delhi

New Delhi, Oct 18: In a decade-old bank fraud case, Manoj Srivastava, former branch manager of Union Bank of India’s SSI Branch in Noida, was convicted and sentenced to four years of imprisonment along with a fine of Rs 30,000 by the special judge of the CBI Court in Ghaziabad on Friday.

The Central Bureau of Investigation (CBI) had registered the case against Srivastava and others on December 14, 2010, following allegations of criminal conspiracy and abuse of official position. During his tenure from May 2007 to June 2009, Srivastava reportedly sanctioned loans using forged and fabricated documents, causing significant financial losses to the bank.

According to the CBI, Srivastava colluded with others to approve fraudulent loans, exploiting his role as a public servant for personal and unlawful gain. After a thorough investigation, the agency filed charge sheets on September 29, 2012.

In a notable development during the court proceedings, Srivastava submitted an application to plead guilty to the charges. The court accepted his plea and passed its order on October 18, officially convicting and sentencing him the same day.

This conviction comes just weeks after another CBI court in Jabalpur handed down a five-year prison sentence to Vishal Kumar Ahirwar, a former Sub Post Master in Madhya Pradesh, for embezzling over Rs 70 lac from depositors’ accounts between 2020 and 2022.

  

Top Stories


Leave a Comment

Title: Bank manager sentenced to 4 years for Noida loan fraud



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.