A taluka court on Tuesday sentenced 16 persons to five years' imprisonment and imposed a fine of `60,000 each for their involvement in the `2.90 crore loan fraud in the Beed district cooperative bank scam.
A sessions court at Ambejogai in Beed district of Marathwada region handed out five-year jail term each to Rajabhau Munde, former chief executive officer of the Beed District Cooperative Bank, and 15 others involved in the loan scam. The court also imposed a fine of `60,000 on each of the convicted persons in the case.
The accused had defrauded the bank in the grand of an illegal loan amounting to the tune of `2.75 crore to an oil seeds firm at Ghanandur village in 2009. Those found guilty in the scam included senior officials of the bank.
Those sentenced in the case were: Arun Narhari Kulkarni, Rao Aghava, Ramakrishna Manaji Kande, Vitthal Govind Jadhav, Dasharath vanve, Sharad Ramakant Ghayad, Nagesh Kishanrao hannurkar, Vinayak Sitaram Sanap, Shivaji Rambahu Khade, Mangala aka Prerna Sundarrao Moe, latabai Sanap, Vijaykumar Duttatraya Gandle, Janardan Prabhakar Dode and Rangnath Desai.