Bank fraud: Special CBI court sentences 5 to imprisonment

NT Correspondent

Bengaluru: A special CBI court in Bengaluru has sentenced five persons to varying periods of imprisonment and imposed a total fine of more than Rs 22 crore on them in a bank fraud case, the agency said on Tuesday.

The CBI registered the case 10 years ago on a complaint from United Bank of India, which had suffered losses of Rs 18.34 on the default of a loan by Nexxoft Infotel Ltd.

"The special judge for CBI cases...has sentenced various accused to undergo simple imprisonment ranging from one year to four years for causing loss of Rs 18.34 crore to United Bank of India," the CBI spokesperson said here in a statement.

The court also slapped the five accused with a fine of more than Rs 22 crore. It also imposed a fine of Rs 1 crore on the company, Nexxoft Infotel Ltd.