The Special Court (CBI Cases) Bangalore has sentenced to S Gopalakrishna then head cashier, SBM Dam Road Branch, Hospet, Bellary (Karnataka) impose fine of Rs. 2.10 lakh and K.S. Raghavendra then LIC Agent impose fine of Rs. 1.60 lakh to four years imprisonment in a case related to demonetisation.
The CBI had registered a case on 30.03.2017 against both aforesaid accused and unknown others on allegations that accused working as Cashier at SBM, Dam Road Branch, Hospet in furtherance of a criminal conspiracy with said LIC agent, had abused his official position and extended undue favour to the accused LIC agent, by violating the RBI Circulars and Government rules and issued 101 Bankers Cheques without obtaining any ID proof and authorization letter in favour of LIC of India, for exchanging Specified Bank Notes(SBNs) during the period November 2016.
It was also alleged that accused LIC agent, attempted to cheat SBM by taking Banker’s Cheques in the names of various persons withouth their knowledge and with a mala-fide intention of converting the SBNs into legal tender.
Further, he allegedly had no intention of taking LIC policies in the names of the persons in whose names the banker’s cheques were taken.
After completion of the investigation, CBI filed Chargesheet on 30.09.2017 against the accused.
After trial, the Court found both accused guilty and sentenced them accordingly.
