New Delhi: A former officer of a government bank and three other persons have been convicted by a Special CBI Court for misappropriating over Rs six crore.

K Thankachan, former Chief Manager of the State Bank of Travancore, Kollam branch in Kerala, was sentenced to two years Rigorous Imprisonment (RI) by the Special Judge (II) in Ernakulam for the misappropriation.

The three other persons -- Rajmohan Pillai, L Anand Sharma and V Jayakumar -- were also sentenced to two years RI.

All the four accused were fined Rs two lakh each. The court has also imposed a fine of Rs one lakh to a firm, Pace International Ltd, in connection with the case.

CBI said the accused persons and the company had hatched criminal conspiracy whereby three letters of credit were opened in 1997 worth Rs 6.26 crore favouring Klen Marshalls Manufacturers and Exporters, Mumbai.

"Later on, bogus documents were enclosed to show the movement and receipt of goods to cheat the bank, thereby misappropriating the said amount," a CBI official said.
Source : PTI