SBI Chief Manager sentenced to Jail for transferring funds from account of deceased holder
A court in Mysuru has convicted a former chief manager of the State Bank of India (SBI) for fraudulently transferring Rs 40.53 lakh from the account of a deceased account holder and Rs 21.04 lakh from an internal account of the bank in 2005.
The court sentenced him to one year of rigorous imprisonment and also imposed a fine of ₹50,000. The accused, AV Kulkarni, was working as the chief manager of the Chamundipuram branch of SBI in Mysore at the time of the crime between May 13, 2009, and December 23, 2011.
According to the prosecution, Kulkarni transferred ₹40.53 lakh from the account of the late Krishna Iyer, who died in April 2005. He also transferred ₹21.04 lakh from an internal bank account, bringing the total amount to ₹61.57 lakh. The prosecution alleges that this money was transferred to the bank accounts of Kulkarni and his son and later withdrawn.
The irregularities were discovered during an internal investigation by senior bank officials. During the investigation, Kulkarni allegedly admitted to withdrawing the money and later returned the amount to the bank. Following the investigation, a case was registered at the Mysuru police station and the police filed a charge sheet.
After hearing arguments from both sides and examining the evidence on record, Judge Prakash V. of the First Additional Chief Judicial Magistrate (CJM) Court in Mysuru delivered the verdict on September 25. The court found Kulkarni guilty under Section 409 of the Indian Penal Code and sentenced him to one year of rigorous imprisonment. The court also imposed a fine of ₹50,000 and directed that ₹40,000 of the fine be paid to the bank as compensation.
