Bhubaneswar: The Special CBI Court on Friday sentenced chit fund firm Micro Finance Limited (MFL) director Ashok Kumar Patnaik to three and a half years of rigorous imprisonment.
The court also slapped a fine of Rs 15, 000 on him. The chit fund firm has also been asked to deposit an amount of Rs 105 crore.
Patnaik, who is currently lodged in Jharpada Special Jail here, had pleaded guilty to the charges leveled against him earlier on June 27 this year. He was arrested on March 2014.
MFL had allegedly duped investors of Rs 400 crore by floating several ponzi schemes in the state.
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