The Chief Judicial Magistrate of Coimbatore, R. Madhura Sekharan, on Tuesday convicted a licensed agent of a leading insurance firm and sentenced him to two years Rigorous Imprisonment as he was found guilty of usurping money from depositors.
According to a press release from the Central Bureau of Investigations (CBI), the accused, K. Srinivasan, was a licensed agent of the Mettupalayam Branch of New India Assurance Company Limited. The Anti Corruption Branch of CBI, Chennai, registered a case against Srinivasan in 2007. It was following allegations that he misappropriated funds collected from customers between January and March 2006 and issued fake and forged policy certificates to the policy holders.
After investigations, CBI filed a charge sheet against him in a Coimbatore Court. The court also imposed a fine of Rs. 10,000 on him.
According to a press release from the Central Bureau of Investigations (CBI), the accused, K. Srinivasan, was a licensed agent of the Mettupalayam Branch of New India Assurance Company Limited. The Anti Corruption Branch of CBI, Chennai, registered a case against Srinivasan in 2007. It was following allegations that he misappropriated funds collected from customers between January and March 2006 and issued fake and forged policy certificates to the policy holders.
After investigations, CBI filed a charge sheet against him in a Coimbatore Court. The court also imposed a fine of Rs. 10,000 on him.