Former bank clerk, accomplice get 5 years in jail in ₹1.71 crore fraud case

The CBI Court, Visakhapatnam, on Monday convicted and sentenced Vempadapu Santhoshi Ramu, then Clerk-cum-Cashier of Andhra Bank, Cheepurupalli branch in Vizianagaram district, who was dismissed from service, and a private individual, M. Ramana, to five years’ imprisonment and imposed a total fine of ₹1,71,42,000 in a bank fraud case.

The CBI registered the case on June 13, 2018. According to the agency, Vempadapu Santhoshi Ramu entered into a criminal conspiracy with M. Ramana, committed criminal breach of trust, and misappropriated ₹1,71,41,162 entrusted to him. The amount was meant to be deposited in the account of the Cheepurupalli Rural Electric Co-operative Society Ltd., which is responsible for collecting power consumption charges from remote consumers in Vizianagaram district.