Former SBI Chief Manager Gets Jail Term In Rs 61.57 Lakh Fraud Cases

A Mysuru court has sentenced a former State Bank of India chief manager to one year of rigorous imprisonment after finding him guilty of misusing Rs 61.57 lakh from a deceased customers account and an internal bank account.

The accused, identified as A V Kulkarni, also known as Aniruddha Vasantrao Kulkarni, was convicted by the 1st Additional Chief Judicial Magistrate court in Mysuru. The court also imposed a fine of Rs 50000 in the case.

The financial irregularities came to light during an internal investigation conducted by senior bank officials. The inquiry examined transactions carried out while Kulkarni was serving as chief manager of the SBI branch at Chamundipuram in Mysuru.

Kulkarni held the position from May 13, 2009 to December 23, 2011. During this period, investigators found that money had been transferred from the account of a customer who had died several years earlier.

The customer, identified as Krishna Iyer, had died in April 2005. Despite the customers death, Rs 40.53 lakh from the account was allegedly transferred to the personal accounts of Kulkarni and his son.

A separate amount of Rs 21.04 lakh was also transferred from an internal bank account. The two transactions together amounted to Rs 61.57 lakh.

The money was subsequently withdrawn and used, leading to the case against the former bank official. The court considered the evidence presented during the lengthy proceedings before reaching its verdict.

The irregularities were initially detected through the banks own internal investigation. During the inquiry, Kulkarni reportedly admitted to the wrongdoing and later repaid around Rs 62 lakh to the bank.

The recovery of the money, however, did not bring the criminal proceedings to an end. Following the internal inquiry, a complaint was filed at the KR Police Station in Mysuru.

Police conducted a detailed investigation and submitted a chargesheet before the 1st Chief Judicial Magistrate court. The case then proceeded through the judicial process, with evidence relating to the transactions and the accuseds role examined during the trial.

The court found Kulkarni guilty under Section 409 of the Indian Penal Code, which deals with criminal breach of trust by a public servant, banker or certain other persons entrusted with property.

The judgment resulted in one year of rigorous imprisonment along with a Rs 50000 fine. The court also ordered that Rs 40000 from the fine amount be paid to the bank as compensation.

The court further directed that the accused would face additional consequences if the fine was not paid as ordered.

The prosecution argued that the transactions represented a serious misuse of the trust placed in a bank official. The case centred on the alleged unauthorised movement of funds from an account belonging to a deceased customer as well as money held in an internal bank account.

Senior Assistant Public Prosecutor K Prakash represented the government during the proceedings.

The case also highlights the role of internal checks within banking institutions. The transactions were detected through the banks internal review, which eventually led to the police complaint and subsequent criminal investigation.

Although the money was reportedly repaid during the internal inquiry, the court proceedings continued to determine whether the former manager had committed a criminal offence.

The conviction now brings a judicial finding in the case after several years of investigation and trial. The court has treated the misuse of entrusted banking funds as an offence warranting both imprisonment and a financial penalty.

The matter also underlines the importance of maintaining proper oversight of customer accounts, particularly when accounts belong to customers who are no longer alive. Banking systems require safeguards to prevent unauthorised transactions and to ensure that officials remain accountable for financial operations carried out under their authority.

The Mysuru court judgment concludes the trial at this stage, with the former SBI chief manager convicted and sentenced in connection with the Rs 61.57 lakh financial irregularity.