The Special Judge for CBI Cases, Chennai, has convicted Shri. K.R Velu, then Deputy Commissioner Customs & Central Excise, Chennai in a disproportionate assets case and sentenced him to undergo two years Rigorous Imprisonment with fine of Rs. 25,000/-.
A case was registered on 07.08.2002 against Shri K.R Velu, then Deputy Commissioner of Customs & Central Excise, Chennai; his wife and his daughters on the allegation that Shri K R Velu while working as Customs & Central Excise had abused his official position and acquired assets disproportionate to his known source of income. The investigation revealed that during the check period from 01.01.1986 to 09.08.2002, Shri K R Velu, had allegedly acquired assets both movable & immoveable to the tune of Rs.75,65,964/-(approx) in his name & in the names of his wife & daughters, and incurred an expenditure of Rs.26,65,304/- as against his total income of Rs.49,26,516/-. Shri K R Velu had fraudulently & dishonestly opened savings bank account in name of his father in Corporation Bank Mylapore Branch, Chennai in August 2000 by forging the signature of his father in the bank application forms & vouchers and opened Fixed Deposits in the name of his father, while his father expired in 1998 itself. Investigation also revealed that Shri K R Velu had allegedly opened & operated savings accounts and Fixed Deposit in various fictitious names. The disproportionate assets held by him against his known sources of income was calculated to Rs.53,04,752/-(approx) which was 107 %.
CBI filed charge sheet against Shri K.R Velu; his wife and his daughters U/s 120 B IPC r/w sec 13(2) r/w 13(1)(e) of PC Act, 1988; U/s 467, 468 and 471 IPC, and specific offences under 193 IPC.
On completion of the trial, the Special Judge for CBI Cases, Chennai, convicted Shri K R Velu, and acquitted his wife & daughters.
Source- CBI Press Release, New Delhi , 05.08.2013