A Special Central Bureau of Investigation (CBI) Court in Pune has sentenced two former officials of the Central Bank of India and a co-borrower to imprisonment in a home loan fraud case. Nandkishore Khairnar, the former manager of the Central Bank of India’s Pimpri branch, and Ravi Bhushan Prasad, the former assistant manager, were sentenced to three years of rigorous imprisonment and a fine of Rs 75,000 each. The co-borrower, Priyanka Prashant Vispute, was sentenced to two years of rigorous imprisonment and a fine of Rs 25,000.
The court found the three convicts guilty of cheating the bank by sanctioning and availing a housing loan using forged documents, resulting in a loss of Rs 24.54 lakh to the bank. The CBI had registered the case in 2016 against several individuals, including bank officials and borrowers, and had filed six charge sheets for different conspiracies.
In this specific case, the charge was that the accused had hatched a conspiracy to sanction a housing loan based on forged documents. However, two of the accused, Rakesh Jaiswal and Prashant Laxman Vispute, died during the trial, and the charges against them were abated. The CBI’s investigation had revealed that the accused had used forged documents to obtain the loan, and the court’s verdict reflects the seriousness of the offense.
The sentencing of the three convicts serves as a reminder of the consequences of engaging in fraudulent activities, particularly in the banking sector. The CBI’s efforts to investigate and prosecute such cases demonstrate the agency’s commitment to preventing and punishing financial crimes. The case also highlights the importance of ensuring the integrity of the banking system and protecting the interests of depositors and stakeholders.
The court’s decision is a significant blow to those who engage in fraudulent activities, and it is expected to serve as a deterrent to others who may be tempted to commit similar offenses. The CBI’s investigation and the court’s verdict have brought closure to the case, and the sentencing of the convicts has provided justice to the bank and its stakeholders.