Mumbai News LIVE Updates: Former bank officials convicted in 25-year-old fraud case

Mumbai News LIVE Updates: Five convicted for Rs 2.88-crore bank fraud case

The accused conspired to provide a wrongful financial gain to Karan Cans Pvt Ltd in 1998-99, and caused a loss of Rs 2.88 crore to the bank, as per the CBI`s case. During the trial, public prosecutor C J Nandode examined 23 witnesses. (PTI)

Mumbai News LIVE Updates: Former bank officials, three others get two-year jail term in CBI corruption case 

The accused were found guilty of criminal conspiracy, cheating, falsification of accounts, and violations under the Prevention of Corruption Act. Besides a two-year prison term, the court also imposed a fine of Rs 5,000 each on former bank officials V R Pai and Sivasailam Hariharan as well as proprietors of private firms Vinod Bhatia, Kunal Bhatia and Ravindra Joshi.

Mumbai News LIVE Updates: CBI proves all charges in corruption case, says court 

The Central Bureau of Investigation (CBI) succeeded in proving all the charges against them, judge B Y Phad ruled in the order passed on October 15. "The evidence establishes a coherent, systematic, and intentional criminal scheme...," said the order which became available on Friday.

Mumbai News LIVE Updates: Former bank officials convicted in 25-year-old fraud case
A special CBI court in Mumbai has sentenced five persons including two former officials of the Oriental Bank of Commerce (OBC) to two years in jail in a 1999 case of fraud. The accused were charged with causing a loss of Rs 2.88 crore to the bank. (PTI)