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500 fake bank letterheads, couriers: CBI court sentences 7 in Rs 8.64 crore Mumbai bank fraud using fake SBI verification

The Indian Express·Sadaf Modak·about 1 month ago
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Mumbai CBI court sentenced seven people in an Rs 8.64 crore bank fraud case involving fake letters of credit and courier interception. A special CBI court in Mumbai this week sentenced seven people, including a bank officer, to three years’ imprisonment for a financial fraud involving a sophisticated modus operandi, dating back to 2010. The court found proof that the men were involved in a fraud amounting to Rs 8.64 crore, where they intercepted couriers sent by the State Bank of India (SBI) for physical verification and posed as bank staff on phone calls to avoid detection. The men — Rajendra Shelke, Ramesh Tiwari, Satish Pujari, Akhilesh Pandey, Padmakar Chavan, Anoop Roy, and Nitin Kakade — were found guilty under various sections, including cheating and forgery. The court suspended their sentence to allow them to file an appeal. One person was acquitted.…

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