Mumbai, May 3 (IANS): In a trail-blazing judgement, a Special CBI Court here has imprisoned a former Andhra Bank manager and four others to varying prison terms and imposed a total fine on them which is considerably higher than the fraud amount of Rs 2.30 crore they perpetrated on the bank, almost 10 years ago.

The prime accused in the case, Rajendra M. Patil, has been sentenced to life in jail with a whopping fine of Rs 3.13 crore -- significantly higher than the total fraud amount suffered by the bank, said a CBI official.

The then manager of the Andhra Bank's Ghodbunder Branch, Thane district, Bandalmudi Mahipal, has been given 10 years in jail plus slapped a fine of Rs 3.40 lakh.

Three other associates of Patil, Nizamuddin I. Surve alias Majeed Naik was awarded three years in jail plus Rs 18,000 fine, and (Mrs) Reshma Kunte alias Reshma Rajendra Patil and Premnath A. Nikumbhe have each got three years' jail terms plus ordered to pay Rs 12,000 in fines.

Thus, the total amounts which will be recovered from these convicts by way of fines is nearly Rs 3.17 crore -- or Rs 87 lakh more -- against the bank's declared fraud of Rs 2.30 crore.

The CBI had lodged a case in January 2010 against the accused after the bank lodged a complaint alleging that they had availed a term loan of Rs 2.35 crore for purchasing 15 Skoda Laura high-end luxury cars.

However, later it was discovered that they had purchased only one car and the remaining money of the loan was siphoned off by the borrower.

Another facility of secured overdraft of Rs 1.40 crore against a term deposit of Rs 1.55 crore was also availed by the borrower which was not not cleared following which the Andhra Bank suffered a total loss of around Rs 2.30 crore.

All the accused in the case were charged and tried by the Special CBI Court which has found them guilty and awarded them conviction.