Two Former IOB Officials Sentenced in Bank Fraud Case
August 11, 2009
Total Loss:
Unknown
Two former officials of Indian Overseas Bank along with seven private persons have been sentenced by a CBI special Court in Chennai in a fraud case. Rajagopalan and Santhanam, former IOB officials were sentenced to one year Rigorous Imprisonment with a fine of Rs 13,000 and Rs 3,000 respectively, a CBI spokesperson said. He said investigation revealed between 1989 and 1991, Rajagopalan and Santhanam, both former clerks of the bank's Mylapore branch, opened multiple accounts with IOB in their names as well as in the name of other family members.
Source:
Press Trust of India
Posted in:
Internal Fraud