CHENNAI: The Special Judge for CBI cases, Madurai, has sentenced an ex-Manager of SBI, Alangudi, in Pudukottai district of Tamil Nadu to four years’ Rigorous Imprisonment (RI) in a 2018 bank fraud case.

The court also imposed a fine of Rs 3.7 lakh on the then SBI Manager Y Kiran Babu.

The CBI had registered the case on December 31, 2018 against the accused on allegations that he had transferred amounts in tranches to the Bank account of his wife from December, 2016. In order to avoid detection, he had split the amount into smaller tranches, while transferring by debiting the same from Branch General Ledger (BGL) account which is meant for passing internal accounting entries without direct impact on normal accounts or transactions of customers.

In pursuance of aforesaid criminal conspiracy, Kiran Babu, by misusing his official position, has misappropriated total amount of Rs.4,94,70,606/- debited from BGL account maintained at SBI,

Alangudi and which was transferred to his wife’s bank accounts maintained at various banks.

After completion of investigation, the chargesheet was filed by CBI against the accused on September 24, 2019.

The Court, after completion of trial, held the accused guilty and sentenced him accordingly.