Ex-SBI Manager Jailed For Siphoning Rs 40 Lakh From Dead Customer's Account
A former State Bank of India manager in Mysuru has been sentenced to one year in prison for siphoning over Rs 60 lakh from a deceased customer's account and an internal bank account. The accused confessed to the crime during an internal inquiry and has since repaid the funds.
Why it matters
This case underscores the importance of internal auditing and accountability within the banking sector to prevent financial fraud.
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.
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