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A court here in Madhya Pradesh has convicted Congress leader and former minister Bhagwan Singh Yadav in a 2004 cooperative bank corruption case and sentenced him to three-year imprisonment..
Besides Yadav, five other accused were also handed jail terms for periods of three years and four years while two others were absolved of the charges, according to the prosecution.
Special MPs and MLAs court judge Sushil Kumar Joshi on Friday imposed a fine of Rs 15,000 on Yadav, government advocate Dharmendra Sharma told PTI on Saturday.
Besides Yadav, the court also sentenced another accused DK Jain to three-year imprisonment and slapped Rs 15,000 fine on him. Four other accused- Ishaan Ashwath, Gajendra Srivastava, Mahila Samiti president Sheela Gurjar, and Sanjeev Shukla have been awarded four-year imprisonment. The court also imposed a fine of Rs 20,000 on each of them.
All four were sent to jail on Friday, while Yadav and Jain got bail.
According to the prosecution, a co-operative bank staffer had complained to the Economic Offences Wing of the MP Police in 2004 that his bank had bought stationery worth Rs 4 lakh from a women cooperative society in 1999 and fake bills were prepared.
The EOW inquiry found the society’s work didn’t involve the supply of stationery. Besides, the bills were found fake, Sharma said.
The investigation found Bhagwan Singh Yadav was the chairman of the cooperative bank at that time and had cleared the bill. The investigation agency also found that he disbursed Rs 72 lakh loans to employees of the bank in violation of rules during his tenure as the chairman, Sharma said.