SBI Allahabad Manager sent to 5 years Jail in Fake Home Loan Scam Case

A CBI court in Lucknow has sentenced two people, including a former branch manager of State Bank of India (SBI), to five years in prison in a bank fraud case. The court has also imposed a total fine of ₹13 lakh.

The convicted persons are Ashok Kumar Dixit, former Branch Manager of SBI, Colonelganj Branch in Allahabad, and Govind Ram Tiwari, proprietor of M/s G.R. Associates, Allahabad.

According to the Central Bureau of Investigation (CBI), the case was registered on May 31, 2005, based on source information against Ashok Kumar Dixit.

The investigation revealed that during 2003–2004, Dixit entered into a criminal conspiracy with Govind Ram Tiwari. They worked together to fraudulently sanction and disburse 36 housing loans

These loans were given using fake and false documents provided by Tiwari. The total loan amount was ₹1,69,45,000.

Due to this fraud, the bank suffered a loss of ₹1,81,85,500. The accused also gained wrongful benefits from the scam.

After completing the investigation, the CBI filed a charge sheet on August 8, 2007, against the accused persons.

After the trial, the court found both accused guilty and sentenced them to five years of imprisonment along with a total fine of ₹13 lakh.