Hyderabad, March 11 : A Special Court for CBI cases here on Friday sentenced 12 persons, including then branch manager of Central Bank of India, to five years Rigorous Imprisonment (RI) in the 2004 bank fraud case after they had caused a loss of more than Rs 98 lakh to the bank by fraudulently disbursing the housing loans. The Court also slapped a combined fine of Rs. 11 lakh against K Raja Rao, former branch manager, Central Bank of India, Bollaram Branch in Secunderabad and others, CBI said in a release here. The CBI had registered a case on September 30, 2004 against Raja Rao, and others on the allegations that the Branch Manager entered into conspiracy with other individual borrowers (private persons) in the matter of fraudulent sanction and disbursement of housing loans during February – April 2002 to the tune of Rs. 98,43,706 without verifying the authenticity and eligibility of the borrowers. An alleged loss to the tune of Rs. 98,43,706 was caused to the bank. After investigation, CBI filed three charge sheets on July 25, 2006 against the accused. The trial court found the accused guilty and accordingly convicted them, the release added. KNR CS1635
