Insurance firm staffer sentenced to 10 years in jail for fund misappropriation

DHARWAD: A CBI court has sentenced a staffer of an insurance company to 10 years imprisonment misappropriating funds of Rs 5.3 crore by misusing his authority. The convicted T Pradeep was working as an administrative officer at Oriental Insurance Company.

Pradeep had been accused of transferring funds online from different banks to his accout in 2013-14. He had misused the funds and also tampered with documents related to his account with Dena Bank in Dharwad.

With the charges against him being proved, the CBI court sentenced him to 10 years in jail and also imposed a fine of Rs 52 lakh on him. The chargesheet in the case had been submitted to the court in 2015.