Sambalpur, Odisha: A court in Sambalpur sentenced ponzi firm Artha Tatwa Group chief Pradeep Sethy to five years' imprisonment in a case related to the chit fund scam.
Chief Judicial Magistrate Manas Kumar Panda also sentenced Sethy to three years' imprisonment under two sections of the Prize Chits and Money Circulation (Banning) Act.
The punishments would run concurrently.
The court also directed Sethy to pay Rs 2 lakh to the complainant as compensation and in default he would undergo rigorous imprisonment for one year.
Raghumani Das of Burla had deposited Rs 6 lakh with the Artha Tatwa Group in April 2012 after being assured of good return. However, he did not get any money and lodged a complaint with the police.
Sethy pleaded guilty in the case yesterday.
Chief Judicial Magistrate Manas Kumar Panda also sentenced Sethy to three years' imprisonment under two sections of the Prize Chits and Money Circulation (Banning) Act.
The punishments would run concurrently.
Raghumani Das of Burla had deposited Rs 6 lakh with the Artha Tatwa Group in April 2012 after being assured of good return. However, he did not get any money and lodged a complaint with the police.
Advertisement
COMMENTS
Advertisement
'57 Suicides Yet No Probe': Bhupesh Baghel Alleges Big "Scam" Under BJP Rule 4 Arrested From Kolkata By CBI In Rs 565-Crore Chit Fund Case CBI Raids Trinamool MLA Subodh Adhikari's Residence In Chit Fund Scam Case Nurse Raped, Killed On Way Home, Body Found 9 Days Later In UP This US City Has Been Declared America's Least Desirable, Survey Finds "Don't Expect Anything From Me": Kolkata Hospital's New Principal Loses Cool Ukraine, Russia Both Claim Advances In Kursk Region Gaza Ceasefire Talks Underway In Qatar As Deaths Top 40,000 Trump To Hold Press Conference, His Campaign Adds Senior Advisers Track Latest News Live on NDTV.com and get news updates from India and around the world.