Hyderabad, May 1 -- The CBI Court, Hyderabad, convicted and sentenced V. P. Padmanabh, the then Branch Manager of Vijaya Bank, Nampally, to three years' rigorous imprisonment with a fine of Rs. 65,000 in a bank fraud case.

The CBI had registered a case on 20 April 2006 against the accused V. P. Padmanabh and others on the allegations that the accused while functioning as manager abused his official position as public servant and in conspiracy with other private persons sanctioned and disbursed five housing loans totaling to Rs. 39.75 lakh without verifying the genuineness of the sale agreement, sale deeds, guarantors and income proofs submitted by the borrowers.

Subsequently, the accused withdrew and misappropriated the loan proceeds, a...