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9 senior citizens get 3-years jail for cheating banks of 13.5 crore

IndiaTimes Saturday, 5 August 2023
Observing that no cheating or fraud complaints from banks against the accused was not sufficient to absolve them of their criminal act, a magistrate’s court last week convicted and sentenced nine senior citizens, including the 61-year-old managing director of a denim manufacturing company, to three years’ simple imprisonment for cheating Bank of Baroda and Federal Bank to the tune of Rs 13.5 crore between 1997 and 2000.
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