Court Sentences Four, Including Former SBI Branch Manager, to 1-3 Years of Rigorous Imprisonment & Imposes ₹9 Lakh Fine
(Judicial Quest News Network)
In a landmark ruling, the Special Judge for CBI Cases in Patna has sentenced four individuals, including P.K. Singh, the former Branch Manager of SBI’s Nabinagar branch in Aurangabad, to rigorous imprisonment for their roles in a significant bank fraud case. The court imposed a three-year sentence with a total fine of ₹6 lakh on Singh, while private individuals Vijay Kumar Singh and Yogendra Singh also received three-year sentences with fines of ₹1.20 lakh each. Chandradeep Singh was sentenced to one year of rigorous imprisonment and fined ₹60,000. This decision follows a guilty verdict delivered by the court on October 23, 2024.
The case dates back to June 28, 1991, when the CBI registered a complaint based on allegations from the Deputy General Manager of Vigilance at SBI’s Patna headquarters. The investigation revealed that during his tenure from 1988 to 1989, Singh had abused his official position to fraudulently withdraw ₹3 lakh from the accounts of various unsuspecting loan recipients.
Further inquiries uncovered that Singh had colluded with private individuals—including Bijay Kumar Singh, Yogendra Kumar Singh, Kameshwar Prasad Singh, Chandradeep Singh, and Jamuna Singh—forming a criminal conspiracy to deceive the bank. They sanctioned cash credit loans to fictitious firms, diverting the funds for personal gain and bypassing standard banking protocols.
Following a comprehensive investigation, the CBI filed charges against Singh and his accomplices on August 31, 1992. Unfortunately, two accused, Kameshwar Prasad Singh and Jamuna Singh, passed away during the trial. Despite this, the remaining defendants were found guilty, underscoring the judiciary’s commitment to tackling financial crimes and holding wrongdoers accountable.
This case highlights the ongoing efforts of law enforcement agencies to uphold the integrity of the banking sector, reinforcing the message that fraudulent activities will not be tolerated. The conviction serves as a reminder of the importance of transparency and adherence to banking regulations, protecting both institutions and their clients from financial malfeasance.4o mini
