Odisha

OPID Court In Cuttack Sentences 7 Persons To 7-Yr RI In Chit Fund Scam

By
OB Bureau

Cuttack: The Odisha Protection of Interests of Depositors (OPID) court here on Thursday convicted 7 persons in a chit fund scam and sentenced them to rigorous imprisonment of seven years besides imposing a penalty of Rs 5 lakh on each of them.

After hearing two fraud cases by Siddha Mahapurusa Money Society, the court convicted accused Bhagyabrata Rout and Duryodhan Bhuyan and announced the sentence.

They have also been convicted under Prize Chits and Money Circulation Schemes (Banning) Act and awarded rigorous imprisonment of two years. Both the sentences will run concurrently. The firm was accused of cheating the investors of Rs 8 crore. The court also announced same sentence for another accused Jibandeep Rout.

In the second related case, the court convicted Laxmipriya Rout, Mitanjali Rout, Sanjib Rout and Manoj Lenka for Rs 4-crore fraud through the society. All the convicts have been sentenced to 7 years of rigorous imprisonment and imposed a penalty of Rs 5 lakh each.

OB Bureau

Recent Posts

Why Simi Garewal Deleted Post Defending Abhishek Bachchan Amid His Divorce Rumours?

New Delhi: Bollywood actress and talk show host Simi Garewal recently shared a post defending…

November 6, 2024

Odisha: Govt Engineering College Student Thrashed By Seniors For Raising Voice Against Ragging

Keonjhar: A second-year student of a government engineering college in Odisha's Keonjhar on Wednesday brought…

November 6, 2024

‘Mai Jald Hi Aaungi’: How Noted Folk Singer Sharda Sinha Kept Promise To Late Husband

New Delhi: Folk singer Sharda Sinha, who was admitted to AIIMS due to complications related…

November 6, 2024

Odisha Police Debunks Murder-For-Robbery Plot, Arrest Man For Killing Spouse

Jeypore: A 24-year-old inconsolable man, rolling on the ground unable to bear the loss of…

November 6, 2024

LMV License Holders Can Drive Transport Vehicles: Supreme Court

New Delhi: A five-judge Constitution bench of the Supreme Court on Wednesday ruled that a…

November 6, 2024

2 Die, One Critical As Car Crashes Into Tree In Odisha’s Konark

Bhubaneswar: Two persons died while another sustained critical injuries as the car in which they…

November 6, 2024

US Election Results: Trump Ahead Of Harris In Three Swing States

New Delhi: Tens of millions of Americans are choosing between two candidates with vastly different…

November 6, 2024

Thieves Decamp With Jewellery & Cash From Tara Tarini Temple In Odisha’s Ganjam

Berhampur: Unidentified miscreants decamped with gold and silver jewellery worth lakhs of rupees and all…

November 6, 2024