CBI court sentences LIC employee to 5-year jail for fraud

Visakhapatnam: A court sentenced an LIC official, who had been accused of fraud, to five years rigorous imprisonment and imposed a fine of Rs. 30,000. The third additional special judge for CBI cases G. Satya Prabhakara Rao pronounced the judgement on 11 March convicting Dharavathu Sakru, a higher grade assistant of LIC's Jaggaiahpeta branch in Krishna district.

Dharavathu Sakru, while working in the accounts department, had, in collusion with 12 others, abused his official position as the custodian of chequebooks and fraudulently prepared and issued cheques amounting to Rs. 77.19 lakh to 12 persons, which they encashed and misappropriated, causing wrongful loss to the LIC and corresponding wrongful gain to themselves.

After the trial, the court convicted the official under various Sections of the PC Act of 1988 and ordered that sentences imposed on the accused run concurrently. However, the court acquitted A2 to A12 in the case.