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Life Insurance Corporation of India former employee sentenced to jail for fraud

A CBI court sentenced a former employee of the Life Insurance Corporation of India (LIC), who had been accused of fraud, to five years rigorous imprisonment and imposed a fine of Rs.30,000. The third additional special judge for CBI cases G. Satya Prabhakara Rao pronounced the judgement on 11 March 2020 (Wednesday) convicting Dharavathu Sakru, a higher grade assistant of LICs Jaggaiahpeta branch in Krishna district.

CBI officials said that Sakru fraudulently prepared and issued cheques amounting to Rs.77.19 lakh to 12 persons, who then encashed the cheques and misappropriated the money, causing wrongful loss to LIC and wrongful gain to themselves.

After the trial, the court convicted the official under various Sections of the PC Act of 1988 and ordered that sentences imposed on the accused run concurrently. However, the court acquitted A2 to A12 in the case.

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