Former Andhra Bank cashier, associate, jailed for 5 years in Rs 1.71 crore fraud case

Visakhapatnam: A CBI Court in Visakhapatnam has sentenced a former clerk-cum-cashier of Andhra Bank and a private individual to five years of rigorous imprisonment in connection with a bank fraud involving over Rs 1.71 crore.

The court also imposed a total fine of Rs 1,71,42,000 on the accused.

Fraud involving rural electricity funds

The convicted include Vempadapu Santhoshi Ramu, who was working as clerk-cum-cashier at Andhra Bank’s Cheepurupalli branch in Vizianagaram district (later dismissed from service), and Mahanthi Ramana, a private individual from Nadipaina Peta.

According to the Central Bureau of Investigation (CBI), the duo conspired to misappropriate Rs 1,71,41,162 that had been entrusted for deposit into the account of the Cheepurupalli Rural Electric Co-operative Society Ltd.

The society is responsible for collecting power consumption charges from consumers in the remote areas of the Vizianagaram district.

Case registered in 2018

The CBI registered the case on June 13, 2018, following allegations of criminal breach of trust and diversion of funds by the bank official in collusion with a private individual.

Chargesheet filed after probe

After completing its investigation, the CBI filed a chargesheet against both accused on January 10, 2019, detailing their roles in the fraudulent transaction and conspiracy.

Court finds accused guilty

Following a detailed trial, the CBI Court found both accused guilty and awarded five years of imprisonment along with a hefty fine, bringing closure to the long-pending bank fraud case.