Following a thorough investigation, the CBI filed a chargesheet on 30 September 2017, leading to the trial.
(Representational image/Creative Commons)
The Trial Court of Special Judge for CBI Cases in Bengaluru has sentenced S. Gopalakrishna the former head cashier at SBM bank in Bellary, and KS Raghavendra, a former LIC Agent, to four years’ imprisonment each, in a case related to demonetisation.
A fine totalling ₹3.70 lakh was imposed on both, with Gopalakrishna directed to pay ₹2.10 lakh and Raghavendra to pay ₹1.60 lakh.
CBI registered the case on 30 March 2017 against both the accused and others involved.
The agency alleged that Gopalakrishna, in collusion with the LIC agent, violated RBI Circulars and Government rules by issuing 101 Bankers Cheques without proper ID proof and authorization letters in favour of LIC of India for exchanging Specified Bank Notes (SBNs) during November 2016.
Raghavendra allegedly attempted to deceive SBM by acquiring Banker’s Cheques in various individuals’ names without their knowledge, with the intention of converting 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.
Following a thorough investigation, the CBI filed a chargesheet on 30 September 2017, leading to the trial. The court, upon examining the evidence, found both accused guilty and handed down the prescribed sentences.
(Edited by Shauqueen Mizaj)
May 12, 2024
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