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Bank Mitra Sentenced to Three Years in Jail for Embezzling ₹7 Lakh

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A Bank Mitra working under Punjab National Bank (PNB) in Aliganj has been sentenced to three years in jail and fined ₹10,000 for misappropriating customers’ money.

What Happened?

Chaitanya Babu Saxena, a resident of Gaini village in the Aliganj police station area, was employed as a Bank Mitra at the PNB branch in Gaini. His job was to help customers with banking transactions. However, instead of depositing ₹7,06,000 into the customers’ accounts, he kept the money for himself and issued fake receipts.

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The fraud came to light when customers tried to withdraw their money and found that the funds were never deposited in their accounts. Upon realizing the fraud, the affected customers filed a complaint, and a case was registered against Saxena.

Legal Proceedings and Court Verdict

The case continued for five years in court. After reviewing all the evidence, the Judicial Magistrate Second Court in Amla, under Judge Vidisha Bhushan, found Saxena guilty of embezzlement. As a result, he was sentenced to three years in prison and fined ₹10,000.

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Prosecution officer Ravi Prakash Mishra stated that strong evidence and testimonies from 17 affected customers played a crucial role in securing justice. The prolonged legal battle finally ended with a judgment that ensured accountability.

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Pradeep Singh

Pradeep Singh is a banking and finance expert covering financial markets, banking policies, and global economic trends. With a background in financial journalism, he brings in-depth analysis and expert commentary on market movements, government policies, and corporate strategies. His articles provide valuable insights for investors, entrepreneurs, and business professionals.
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