In a recent development, a Special Central Bureau of Investigation (CBI) Court in Pune has handed down prison sentences to two ex-officials of the Central Bank of India and a co-borrower for their involvement in a home loan fraud case. The court sentenced Nandkishore Khairnar, the former Manager of the Pimpri Branch in Pune, and Ravi Bhushan Prasad, the former Assistant Manager, to three years of rigorous imprisonment each along with a fine of Rs 75,000. Additionally, the co-borrower, Priyanka Prashant Vispute, who had sought a housing loan of Rs 18.75 lakh with her spouse, was sentenced to two years of rigorous imprisonment and a fine of Rs 25,000.
The convictions stem from the trio’s fraudulent activities, where they deceived the bank by securing and utilizing the loan through falsified documents, resulting in a financial loss amounting to Rs 24.54 lakh for the Central Bank of India’s Pimpri branch. The CBI, in its statement, highlighted the court’s ruling against the three individuals for their role in the deceitful scheme.
The case dates back to February 17, 2016, when the CBI initiated proceedings against Rakesh Jaiswal, the then Assistant General Manager of the Central Bank of India, and several borrowers. Subsequent investigations led to the filing of six charge sheets related to various fraudulent activities. Notably, a specific charge implicated Rakesh Jaiswal, along with other individuals, in a criminal conspiracy involving the approval of housing loans based on forged documents.
During the trial, two of the accused, AGM Rakesh Jaiswal and borrower Prashant Laxman Vispute, passed away, resulting in the abatement of charges against them. The court’s verdict underscores the legal repercussions faced by those involved in the fraudulent loan scheme.
