Former Bank of Baroda manager, 10 others convicted in Rs 79 lakh loan fraud case

  • | Saturday | 20th April, 2019

A special court in Pune on Friday convicted 11 persons, including a former manager of Bank of Baroda’s Pimple Saudagar branch, over a Rs 79 lakh financial fraud case. AdvertisingIn October 2016, the CBI had chargesheeted 16 individuals, including Borkar, in this case. The case was investigated by the Anti-Corruption Wing of the Central Bureau of Investigation (CBI-ACB). He allegedly sanctioned and disbursed 14 car loans on the basis of forged documents and violated procedure for sanctioning loans, causing the bank a loss of Rs 79.69 lakh. On Thursday, Special Judge Prahlad Bhagure found Borkar and 10 others guilty under various sections of the law.

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