New Delhi, Aug 29 A CBI special court in Indore on Saturday sentenced 13 convicts in a Rs three crore bank fraud case in UCO Bank to five years' rigorous imprisonment, after 14 years of investigation and trial, officials said.
The court also slapped a total fine of Rs 1.56 lakh on the convicts.
The agency registered the case on March 30, 2012, based on a complaint from a Deputy Zonal Manager of the UCO Bank, Indore, alleging that the accused, in pursuance of criminal conspiracy, availed loan facilities by mortgaging land actually belonging to third parties at different locations, the CBI Spokesperson said in a statement.
The accused showed the valuers different properties by using fictitious identities, it said.
They submitted fake sale deeds by forging signatures of the sub-registrar and false SDO revenue diversion orders to induce loan sanctioning bank, thereby causing wrongful loss to the bank of over Rs. three crore, it said.
The agency summed up its investigation in 10 charge sheets filed over a year in 2013, following which trial began in these cases.
"The court, after the trial, convicted and sentenced all the accused, accordingly," the Spokesperson said.
