HC confirms 5-yr jail to bank manager and four others
Monday, February 11, 2008
Madurai, Feb 11. The Madurai Bench of the Madras High Court has upheld a trial court order sentencing three bank employees and two others in a multi-lakh Rupee demand draft fraud case involving two banks in Mumbai.
The accused allegedly stole blank demand drafts from the branches of the Bank Of India and Bank of Maharashtra and encashed the same for a total sum of Rs 38.28 lakh after forging signatures of bank authorities.
The Special CBI Court here had on Dec 27, 2002 sentenced the accused to five years rigorous imprisonment and imposed a fine of Rs five lakh on each of them.
Dimissing appeals filed by four of the accused, Justice A Selvam said the CBI Court had rightly sentenced them after considering all relevant evidence regarding the "grave" crime. "I have nothing to interfere with the trial court judgement." According to the prosecution, Nana Mahadev Jadav and Prakash Ramachandra Payer, working as sub-staff with the Bank of India, D.N.Road Branch, and the Bank of Maharashtra, Ghatkopar East Branch, respectively had stolen two blank DD books containing 100 leaves each.
The DD books were handed over to four Mumbai-based persons, who were later declared as absconding accused. The four accused distributed the leaves to various places, including some locations in Tamil Nadu.
Muthukrishnan, an oil merchant, had received some DDs and he routed them through Thangasamy and Sathya Seelan, who have turned approvers, to N R Raveendran,a textile dealer here.(Agency)