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.
Berhampur: Berhampur University (BU) in Odisha is all set to launch a recreational space, named…
Puri: Unidentified miscreants allegedly looted cash from the donation box of Siruli Mahavir Temple in…
Bargarh: Normal life was disrupted in Odisha’s Bargarh town on Tuesday due to a dawn-to-dusk…
New Delhi: External Affairs Minister S Jaishankar was seated in the first row at Donald…
Koraput: A couple died after coming in contact with live wires laid by poachers to…
Washington: A few hours after taking office as the 47h President of the US, Donald…
This website uses cookies.
