Bhubaneswar: The Special CBI Chief Judicial Magistrate (CJM) Court on
Thursday awarded seven years’ imprisonment and fine of Rs 30,000 to
Artha Tatwa (AT) Chief Pradeep Sethy in connection with the
multi-crore chit fund scam in Odisha.
According to the court, in case of default in payment of fine the accused shall serve imprisonment for a period of another six months.
AT Group Director Manoj Patnaik was also sentenced to undergo imprisonment for four years. In addition, he will have to pay Rs 10,000 as fine.
The AT Group has been directed to deposit Rs 250 crore before the court, failing which its properties will be attached, the court said.
Police arrested Sethy on May 13, 2013, following public outcry against chit fund fraud.
