New Delhi: A CBI court has imposed the highest fine of Rs 15.06 crore on a former senior manager of Indian Overseas Bank and sentenced him to seven years in jail for defrauding the bank to the tune of Rs 2.14 crore, officials said on Friday. Officials gave this information on Friday.
According to officials, Preeti Vijay Sahijwani, posing as senior manager of the Vastrapur branch of the Indian Overseas Bank (IOB) in Ahmedabad, made the final maturity payment of foreign currency non-resident (FCNR) deposits of two accounts without any authorization letter. Was deposited in the accounts. th depositor or power of attorney holder.
They had then sanctioned demand loans and cash credits to fake accounts amounting to about Rs 1.40 crore against the security of un-surrendered deposit receipts of genuine depositors by altering the amount, date maturity value and others, he said.A CBI spokesperson said, "The accused caused wrongful loss of more than Rs 2 crore (approximately) including interest on July 27, 2001."
On the bank's complaint, the CBI took over the investigation of the case on October 29, 2001 and filed a charge sheet on October 15, 2003. Sahijwani had fled the country and was absconding till 2012. The CBI had issued an Interpol red notice against him, which helped the agency trace him to Canada.
"He was detained by Canadian immigration authorities and deported to India on January 11, 2012," a CBI spokesperson said in a statement.,
The special court in Gandhinagar convicted the former senior manager of criminal breach of trust, counterfeiting of valuable security, using a forged document as genuine and causing wrongful loss to the bank.
A CBI spokesperson said the court imposed a fine of Rs 15 crore on the convict and ordered that the amount go to the complainant's bank. Officials said this is one of the largest fines imposed by a special court.
The officer said, “During the trial, 23 prosecution witnesses were examined and 158 documents were proved through the witnesses. After the verdict was pronounced, Preeti Vija Sahijwani was taken into custody."
According to officials, Preeti Vijay Sahijwani, posing as senior manager of the Vastrapur branch of the Indian Overseas Bank (IOB) in Ahmedabad, made the final maturity payment of foreign currency non-resident (FCNR) deposits of two accounts without any authorization letter. Was deposited in the accounts. th depositor or power of attorney holder.
They had then sanctioned demand loans and cash credits to fake accounts amounting to about Rs 1.40 crore against the security of un-surrendered deposit receipts of genuine depositors by altering the amount, date maturity value and others, he said.A CBI spokesperson said, "The accused caused wrongful loss of more than Rs 2 crore (approximately) including interest on July 27, 2001."
On the bank's complaint, the CBI took over the investigation of the case on October 29, 2001 and filed a charge sheet on October 15, 2003. Sahijwani had fled the country and was absconding till 2012. The CBI had issued an Interpol red notice against him, which helped the agency trace him to Canada.
"He was detained by Canadian immigration authorities and deported to India on January 11, 2012," a CBI spokesperson said in a statement.,
The special court in Gandhinagar convicted the former senior manager of criminal breach of trust, counterfeiting of valuable security, using a forged document as genuine and causing wrongful loss to the bank.
A CBI spokesperson said the court imposed a fine of Rs 15 crore on the convict and ordered that the amount go to the complainant's bank. Officials said this is one of the largest fines imposed by a special court.
The officer said, “During the trial, 23 prosecution witnesses were examined and 158 documents were proved through the witnesses. After the verdict was pronounced, Preeti Vija Sahijwani was taken into custody."
