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CBI court sentences five in fraudulent transactions case

CBI court sentences five in fraudulent transactions case

New Delhi, Sep 14 (UNI) A special CBI court in Hyderabad has sentenced five people to undergo imprisonment with fine in a case related to fraudulent transactions. "The Special Judge for CBI cases, Hyderabad sentenced C Karunakar Babu and G Anantha Kumar seven years' imprisonment with fine of Rs 6,75,000 each; three years' imprisonment with fine of Rs 75000 each to V Ashok Kumar and BK Manjunath; and G Sudheer to undergo three years imprisonment with fine of Rs 50,000," the probe agency said in a statement here today. The CBI said it had registered the case on January 28, 2005 on the allegations that KV Sudhakar Reddy, former Branch Manager of Indian Bank, Kongareddipalle, Chitoor branch in collusion with the other accused persons made fraudulent transactions and misappropriated Rs 1.12-crore. 'After completion of investigation, charge sheet was filed before the Principal Special Judge for CBI Cases, Hyderabad on May 31, 2006 under section 120-B r/w 409, 420, 467, 468, 471 of IPC, 13(2) r/w 13(1)(c) and (d) of PC Act, 1988 and substantive offences against the accused persons. KV Sudhakara Reddy expired during Trial and the charges against him were abated," it stated. The probe agency said the trial Court convicted the five accused persons and acquitted two other persons. UNI DS SNU 1542

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