Additional Special Judge for CBI cases N. Ramesh Babu sentenced the then Andhra Bank manager Ravinuthala, Prakasam district K. Jalaramaiah and seven borrowers to two-year rigorous imprisonment in 12 CBI cases here on Friday.
The seven convicted have been identified as Sheik Shubhani, N Anjaiah, Ravi Chiranjeevi, A. Sumitra, L. Subba Reddy, M. Ramachandra Rao and O. Basavaiah. While Jalaramaiah was slapped a fine of ₹96,000, others were fined ₹6,000 each.
According to prosecution, during the period between 2007 and 2008, K. Jalaramaiah, in conspiracy with Ch. Venkateswarlu (since deceased), then Sub Manager-cum-Cash Officer, Andhra Bank, Ravinuthala Branch and 11 borrowers, fraudulently sanctioned and disbursed 123 crop loans amounting to ₹1,02,00,659 in favour of 114 non-existing persons and nine private persons. They committed the crime by accepting fake and fabricated supporting documents submitted along with the loan applications.
The CBI officials said that the bank sustained a wrongful loss of ₹1,02,00,659. Out of total 11 borrowers, two died, two are acquitted and the remaining seven have been convicted by the Special Judge.
