Ernakulam (Kerala): The Special Judge, CBI Cases here has sentenced a former Assistant Administrative Officer of Life Insurance corporation (LIC) posted at the Divisional Office at Kozhikode in Kerala to undergo three years Rigorous Imprisonment with fine of Rs 2.75 lakh.
The CBi court has also convicted an ex-Mechanical Instructor in the Regional Fisheries Technical High School at Tanur, Malappuram in Kerala and sentenced him three years Rigorous Imprisonment with fine of Rs. One lakh.
The CBI had registered a case on the allegations that C.P. Damodaran, Assistant Administrative Officer in the KGSD (Kerala Government Salary Deduction) Department of LIC of India, Divisional Office, Kozhikode, during the period 1997 to 2001 had entered into a criminal conspiracy with V. Suran, former Mechanical Instructor in the Regional Fisheries Technical High School at Tanur, Malappuram and another person and misappropriated the funds of LIC by using forged documents as genuine. Money was embezzeled by preparing and passing false maturity claim payment vouchers against 13 LIC Policies to the tune of approximately Rs.4,03,174. The accused persons had managed to secure cheques for this amount and these were encashed through the accounts of the other accused. CBI had filed a chargesheet against three accused persons. The Trial Court has convicted two of them and acquitted the third accused.