CBI Court Sentences Union Bank Manager to 4 Years in Jail for Rs.40 Lakh Fraud
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Ghaziabad, September 25, 2025: The CBI Court in Ghaziabad has sentenced Manoj Srivastava, Branch Manager of Union Bank of India, Noida (SSI Branch), to four years of imprisonment along with a fine of ₹30,000 in a ₹40 lakh bank fraud case.
The CBI had registered the case on December 14, 2010, against Srivastava and others for fraud. While posted as Branch Manager between May 2007 and June 2009, Srivastava misused his position and entered into a criminal conspiracy with Om Prakash Maheshwari (Proprietor of M/s Pioneer Enterprises), Rashmi Srivastava, Prithvi Raj Saxena (Chartered Accountant), and Manish Kothari (Private Person).
On September 27, 2008, Srivastava sanctioned a loan of ₹40 lakh to the accused using fake and forged documents, which caused wrongful loss to the bank.
The CBI filed its chargesheet on September 29, 2012, against all the accused. The court framed charges on November 3, 2017. On August 13, 2025, Srivastava filed an application to plead guilty before the Special Judge, CBI Anti-Corruption Court, Ghaziabad.
The court accepted his guilty plea and, in its judgment on September 25, 2025, convicted and sentenced him to four years in prison.
