Bhopal News: CBI Court Sentences 7-Year Jail Term To Ex-Senior Bank Manager Of Misrod Branch Over ₹27 Lakh Loan Fraud

Bhopal (Madhya Pradesh): A special court of the Central Bureau of Investigation (CBI) in Bhopal has convicted two people in a bank fraud case and sentenced them to seven years of rigorous imprisonment on Thursday.

The convicted persons are Piyush Chaturvedi, the then Senior Branch Manager of Misrod branch, and aide Mohan Singh Solanki. The court also imposed a total fine of ₹60,000 on the accused.

According to officials, the case was registered by the CBI on January 25, 2016, after a written complaint was submitted by the then Deputy Zonal Manager of the bank. The complaint alleged financial irregularities in the sanction of a loan.

During the investigation, it was found that Piyush Chaturvedi, while serving as Senior Branch Manager, fraudulently sanctioned a term loan of ₹27 lakh in the name of a firm called Vision Computer. Investigators said that the loan was approved dishonestly and without following proper banking procedures.

After the loan was sanctioned, Chaturvedi allegedly conspired with co-accused Mohan Singh Solanki to misuse the funds. The loan amount was transferred to the bank account of Ajab Kumar Industries, which was owned by Krishna Bai Solanki, the wife of Mohan Singh Solanki.

Uses money for personal use

Officials said the accused then misappropriated the money for personal gain. The fraudulent transaction caused a financial loss to the bank while giving illegal benefits to the accused persons.

Following a detailed investigation, the CBI filed a chargesheet against the accused in court.

Found guilty after evidence

The court found both accused guilty after hearing the case and examining the evidence.

The court sentenced them to seven years of reigorous imprisonment and imposed the fine of ₹60k. Officials said judgement marks an important step in addressing corruption and financial fraud in the banking sector.