Mumbai court grants life term to senior citizen for Rs 1 crore fraud
Posted On : Wednesday, May 1, 2019, 5:45 PM
A special court in Mumbai on Tuesday sentenced a 67-year-old man to life imprisonment for fraudulently withdrawing Rs 1.04 crore from a bank by forging signatures of a Dubai-based NRI during 1996-99. The court also imposed a cumulative fine of Rs 5.03 crore on Narendra Patel. CBI court judge S R Tamboli convicted Patel under sections 467 (Forgery of valuable security), 420 (Cheating and dishonestly inducing delivery of property) and other relevant sections of the Indian Penal Code (IPC). According to prosecution, Hussain Nensey, a resident of UAE, had in 1996 opened a term deposit of Rs one crore for three years in the SBI's Hughes Road branch in south Mumbai.