Chennai: A CBI court in Chennai has convicted and sentenced six people, including a former Deputy General Manager of Bank of India, to 10 years of rigorous imprisonment in a bank fraud case involving about ₹2.39 crore. The court also imposed a combined fine of ₹2.70 crore on the convicted persons.
Those sentenced include V. Venkatachalam, then DGM of Bank of India, M. Sivakumar, Record Clerk, S. Cholinganallur Taluk office, T. Dasarathan, VAO, P. Shavanthangal, M. Manichavelu, VAO, Government of Tamil Nadu, and two private persons identified as T. Thamarai Poo and P. Thandapani.
The judgment was delivered on August 19, 2026.
Fraud Case Stemmed From 2010 CBI Investigation
The Central Bureau of Investigation registered the case on May 19, 2010, following a complaint from Bank of India.
According to the CBI, the case involved allegations that E. Muthuswamy and others conspired with officials of Bank of India and misappropriated funds belonging to the bank.
The agency alleged that the accused used fictitious and fabricated documents while carrying out the fraud, causing a wrongful loss of about ₹238.97 lakh to the bank.
After completing the investigation, the CBI filed its chargesheet on December 28, 2011, against 12 accused persons. The chargesheet included five public servants and seven private individuals.
Six Convicted After Trial
Following the trial, the court convicted six of the accused and sentenced them to 10 years of rigorous imprisonment.
The court also imposed a total fine of ₹2.70 crore on those convicted.
The press release identifies V. Venkatachalam, M. Sivakumar, T. Dasarathan, M. Manichavelu, T. Thamarai Poo and P. Thandapani among those sentenced.
The case was based on allegations that bank officials and private individuals acted in conspiracy and used false and fabricated records to divert bank funds.
Proceedings Against Other Accused Took Different Courses
The CBI said the case involving one public servant, V. Umapathy, who was serving as a suspended Senior Draftsman in the Land and Survey Department, had been split up in a separate case.
Proceedings against four private accused, identified as E. Muthuswamy, A. Vincent, K. Srikanth and Smt. M. Jothi, had abated during the course of the trial.
Another accused, Smt. Lavanya, was acquitted.
The conviction marks the conclusion of the trial against the six individuals sentenced in the principal case, more than 16 years after the CBI first registered the matter.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
