Ex-SBI Manager Jailed For Siphoning Rs 40 Lakh From Dead Customer's Account

A Mysuru court has convicted a former State Bank of India (SBI) Chief Manager for fraudulently transferring Rs 40.53 lakh from the account of a customer who had died in 2005 and another Rs 21.04 lakh from an internal bank account. The court sentenced him to one year of rigorous imprisonment and imposed a fine of Rs 50,000.

The accused, AV Kulkarni alias Aniruddha Vasantrao Kulkarni, was serving as Chief Manager at SBI's Chamundipuram Branch in Mysuru when the offences were allegedly committed between May 13, 2009, and December 23, 2011.

According to the prosecution, Kulkarni transferred Rs 40.53 lakh from the account of late Krishna Iyer, who had died in April 2005. He also transferred Rs 21.04 lakh from an internal bank account, taking the total amount involved to Rs 61.57 lakh.

The prosecution alleged that the funds were transferred to bank accounts belonging to Kulkarni and his son and were later withdrawn.

The irregularities came to light during an internal inquiry conducted by senior bank officials. During the inquiry, Kulkarni reportedly admitted to withdrawing the money and subsequently repaid around Rs 62 lakh to the bank.

Following the inquiry, a case was registered at Mysuru Police Station. After completing the investigation, police filed a charge sheet.

After hearing arguments from both sides and examining the evidence on record, Judge Prakash V of the 1st Additional CJM Court, Mysuru, delivered the verdict on September 25.

The court found Kulkarni guilty under Section 409 of the Indian Penal Code and sentenced him to one year of rigorous imprisonment. It also imposed a fine of Rs 50,000 and directed that Rs 40,000 from the fine amount be paid to the bank as compensation.