Mohali, Dec. 16 -- A special CBI court on Monday convicted four persons in a long-pending LIC fraud case involving a loss of Rs.1.35 crore to the Life Insurance Corporation of India.

Special CBI Judge Baljinder Singh Sra pronounced the verdict in the case titled CBI vs Gagandeep Narang and others. The case was investigated by the CBI's anti-corruption branch, Chandigarh, and prosecuted by Anmol Narang.

The case pertains to alleged irregularities committed between July 1997 and August 2006 at LIC Unit-II, Ludhiana. According to the prosecution, the accused entered into a criminal conspiracy and caused wrongful loss to LIC by manipulating records and processing fraudulent transactions.

After completing the probe, the CBI filed a chargesh...