Bank fraud case but rectified from my end
chiyam
(Querist) 08 January 2024
This query is : Resolved
As a bank manager I involved in a bank fraud case not intentionally for using Rs 90 lacs by opening OD account in my sister name by investment in stock market without proper knowledge & thought to close in one month by selling my ancestors property. How ever i repaid the full amount to bank with interest in 10 days. But mean while they filed an FIR under 409 & 420 bank & terminated me from services. & also I received no dues letter from bank for OD account. Now after 18 months i got notice from court to attend for hearing. How serious will this be for my career if they sentenced me to jail ?? Or is there any chance by quashing the case by court as i repaid the full amount and as an punishment i lost the job also. Please suggest the next steps to resolve this matter. Your suggestions are greatly appreciated. Thank you to all members
T. Kalaiselvan, Advocate 
(Expert) 09 January 2024
Since you have repaid the amount misappropriated, you rather have admitted the commitment of offence/crime.
Therefore you may not be able to avoid conviction
chiyam
(Querist) 09 January 2024
One of my Advocate friend told me to file for quash the case in high court. Is this advisable??
Sudhir Kumar, Advocate
(Expert) 09 January 2024
Agreeing with Mr Kalaiselvan, I will add as under:-
you can try the quash case. Not understood on the basis of which facts have ha ve ben advised so. Givenfacts indicae the chances as bleak.
You have stated that you are terminated. It appears that :-
1. Either you are not terminated rather dismissed from service afer chargesheet and inquiry.
2. Or irregularly terminated.
Anyhow raking that issue might lead the authorities to invoke more action which they could have taken and appearing from your blog they have not taken:-
1. If it is govt bank then additional action under IPC the criminal case can be filed under Prevention of corruption Act.
2. Criminal case against your sister being the beneficiary of embezzlement.
3. Action Banking service Act whether RBI under section 36AA of Banking regulation Act
As far as banking career is concerned that is practically ,lost even if you are acquitted (the chances appears to be bleak in given facts).
Repayment of embezzled amount does not wipe out the criminal liability particularly if one was acting as Bank officer.
P. Venu
(Expert) 11 January 2024
In the given facts, quash petition is unlikely to be a remedy. You need to face trial. And in the trial, you could be acquitted if the prosecution is unable to prove the charges beyond reasonable doubt.
However, your dismissal from service has more or less attained finality, you yourself having accepted the lapse or negligence on your part.
