Banker gets 10 yrs RI for misappropriating funds worth crores

A CBI court sentenced the then branch manager of Bank of Maharashtra to 10 years of rigorous imprisonment (RI) for misappropriating over Rs 2.5 crore from the bank. The special judge for CBI on Wednesday sentenced Shaliwahan Solegaonkar, the then branch manager of Bank of Maharashtra, to 10 years of rigorous imprisonment and also imposed a fine of Rs 24 lakh on him.

The court also sentenced Solegaonkar's accomplice Rakesh Jadhav to three years of rigorous imprisonment and fined him Rs 10,000. Between 2009 and 2017, the accused, who was a branch manager in five different branches of the bank in Pune, conspired with Jadhav and other unidentified persons, a CBI release stated.

As per the release, both the accused fraudulently misappropriated over Rs 2.5 crore from the bank. Solegaonkar, who was posted in different capacities at five branches of the bank, transferred the amount from the Bank General Ledger account to a saving account that Jadhav had opened with the bank. Solegaonkar later transferred the said amount from Jadhav's account to his own savings accounts at Vadgaon Budruk and Sahakarnagar branches of Bank of Maharashtra.