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SBI Chief Manager sentenced to 2 year jail after 18 years of fraud case


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In a protracted legal battle spanning 18 years, a special CBI court has recently delivered a verdict, convicting two individuals for cheating the State Bank of India (SBI) of Rs 57 lakh in 2000. The convicted parties include an 85-year-old director of a private company, M P Abraham, and a 77-year-old former SBI chief manager, V B Mantri. The case, initiated in 2002, saw trial proceedings commencing in 2005.

Verdict and Sentencing:

Special judge D P Shingade found Abraham and Mantri guilty of offenses related to cheating and criminal conspiracy. The judge emphasized the severity of such crimes, stating that they aim to undermine the state’s economic fabric and financial stability. Despite acknowledging the prolonged trial and the age and ailments of the accused, the judge sentenced them to two years of rigorous imprisonment.

Judicial Perspective on Economic Crimes:

The judge highlighted the detrimental impact of economic offenses on the nation’s growth and economy. The crimes were characterized as hindering overall progress and causing significant damage to the nation’s economic well-being.

Previous Conviction and Financial Penalties:

This is not the first conviction for Abraham and Mantri. In 2017, they were found guilty in a similar case and were sentenced to five years in prison. Additionally, Abraham and other directors were fined Rs 10 crore in that case.

Involvement of Other Accused:

Abraham’s wife was also implicated in the 2002 case, but she passed away during the trial, leading to the abatement of charges against her in 2016. Five other individuals purportedly associated with Abraham’s company, Trinity Greases Pvt Ltd, were acquitted as the prosecution failed to establish their directorial roles or benefits from the alleged fraud.

Prevention of Corruption Act Violation:

The judge found Mantri guilty under the Prevention of Corruption Act, emphasizing that, as a public servant, he engaged in a criminal conspiracy with Abraham and an accountant, Avinash Mujumdar. The judge highlighted Mantri’s abuse of official position in favoring Abraham and his company.

Criminal Conspiracy and Unlawful Transactions:

The judge outlined how Mantri, as the watchdog of transactions and public funds in the bank’s Mulund (W) branch, participated in a criminal conspiracy. The convicted parties, along with Mujumdar, executed unlawful transactions, including purchasing or discounting cheques beyond Mantri’s powers, leading to a credit of Rs 40 lakh, which was subsequently transferred to various accounts, including Abraham’s vehicle loan account and the Trinity Greases account.

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