Pune: A special CBI court in Pune has sentenced two officials of the Central Bank of India’s Pimpri branch to three years imprisonment each in a bank fraud case. The court took a serious view of the housing loan fraud involving forged documents and also imposed fines on the convicts.
The CBI registered the case on 17 February 2016. During the investigation, allegations surfaced against the then AGM of the Central Bank of India, Rakesh Jaiswal, along with several borrowers, for cheating the bank and conspiring to commit the offence. The CBI filed a total of six charge sheets related to various conspiracies after thorough inquiries.
In Special Case No. 21/2018, it was alleged that then AGM Rakesh Jaiswal, borrower Prashant Lakshman Vispute, co-borrower Priyanka Prashant Vispute, then Manager Nandkishor Khairnar, and Assistant Manager Ravi Bhushan Prasad colluded to sanction a housing loan of Rs 18.75 lakh using forged documents.
Evidence presented in court revealed that Priyanka Prashant Vispute caused a financial loss of Rs 24.54 lakh to the Central Bank of India’s Pimpri branch through fake documents. The investigation confirmed that the bank officials misused their positions and committed serious irregularities in the loan approval process.
During the trial, two accused persons – the then AGM Rakesh Jaiswal and main borrower Prashant Lakshman Vispute – passed away, leading to the closure of proceedings against them.
After a prolonged trial, the CBI court found the remaining three accused guilty. The special court sentenced the then Manager Nandkishor Khairnar and Assistant Manager Ravi Bhushan Prasad to three years rigorous imprisonment each along with a fine of Rs 75,000 each. Co-borrower Priyanka Prashant Vispute was sentenced to two years rigorous imprisonment and fined Rs 25,000.
The court stated in its verdict that strict punishment is essential in such cases to maintain trust in the banking system and to deter future frauds.
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