In a significant ruling, Kirtikumar Dhirajlal Mehta, a former special assistant at the State Bank of Saurashtra aka Saurashtra Gramin Bank, has been sentenced to seven years of rigorous imprisonment for his role in a major bank fraud case. Along with the prison sentence, Mehta has also been fined ₹15 lakh by a Central Bureau of Investigation (CBI) court.&nbsp;
The conviction stems from Mehta&rsquo;s involvement in falsifying loan documents and misappropriating funds. He was held guilty for several offences such as criminal breach of trust, cheating, forgery of valuable security, forgery for the purpose of cheating, using forged documents as genuine and criminal misconduct for cheating the bank. The total amount embezzled was ₹95.94 lakh.&nbsp;
Mehta falsified additional housing loan accounts/applications of 61 staffers, allegedly received from bogus/non-existent SBS bank employees and cheated the bank. It was also alleged that such staff additional housing loans and other loans were disbursed to staffers through the Personal Banking Division of the bank&rsquo;s Darbargadh branch, Bhavnagar.
Furthermore, Mehta had allegedly disbursed additional housing loans under the names of several staffers ranging from ₹2.80 lakh to ₹4.40 lakh from the last quarter of 1995 onwards.
During the trial, more than 47 prosecution witnesses were examined and&nbsp; over 152 documents/ exhibits were relied upon, in support of the charges against the accused.
Mehta&rsquo;s fraudulent activities were thoroughly investigated by the CBI and presented in court, leading to a guilty verdict.

Mehta has also been fined ₹15 lakh by the court

Kirtikumar Mehta falsified loan docs, used names of staffers to embezzle ₹95.94 lakh

Ex-Bank Employee Gets 7 Yrs Jail for Bank Fraud

Kirtikumar Mehta falsified loan docs, used names of staffers to embezzle ₹95.94 lakh

January 24, 2025 | 21:05 IST