Ex-SBI Manager Sentenced To 7 Years In Jail In Multi Crore Fraud Case

New Delhi, Jan 12: A CBI court in Hyderabad sentenced former State Bank of India branch manager Praveen Singh to seven years in prison and a Rs 2 lakh fine.

On April 26, 2010, the CBI charged Praveen Singh with conspiring with unknown parties to defraud SBI by prematurely cancelling Special Term Deposit Receipts, embezzling money into his own accounts and accounts formed in fake names, and misappropriating Rs 4.03 crore.

Following an investigation, the CBI filed a charge sheet against the accused on March 31, 2011.

The accused was found guilty and sentenced by the trial court.

 

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