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Five Convicted in Assam’s LOC Scam

A CBI court in Assam sentenced five individuals to 18 months to three years in prison for their involvement in the 1990s “Letter of Credit” (LOC) scam. They were also fined a total of Rs 1.6 lakh. The scam involved fraudulent withdrawals of government funds amounting to Rs 1.74 crore.

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