A former employee of a cooperative sector bank was sent to jail for two years in an Rs 1.15 crore fraud perpetrated by the convict eight years back in Odisha’s Angul district.
The Sub Divisional Judicial Magistrate (SDJM) Court in Kamakshya Nagar sentenced the banker- Sanjay Kumar Satapathy to undergo Rigorous Imprisonment (RI) for two years with fine of Rs 13,000.
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Satapathy, a former employee of Angul United Central Cooperative Bank, Kamakhya Nagar Branch, was found guilty under sections 409 (Criminal breach of trust by banker), 467 (forging a document which purports to be a valuable security or a will), 468 (forgery for purpose of cheating) besides other relevant sections of Indian Penal Code.
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The Economic Offences Wing (EOW) of Odisha Crime Branch had taken up the investigation of the case in 2019 and had arrested the accused on the basis of prima facie evidence.
“Satapathy in conspiracy with three other staff of the bank has misappropriated Rs 1,15,16,300 during the year 2015-16 by crediting the amount to 65 different accounts from different heads of general ledger account through 187 transactions, and subsequently withdrew the amount by using the user ID of the account holders,” the EOW said in a statement on Thursday.
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