Crime

Shastra Chit Fund Scam Convicts Awarded 7 Years In Jail

By
OB Bureau

Balasore: Judge Biswajit Das of the Odisha Protection of Interests of Depositors (OPID) court Tuesday convicted four persons in the ‘Shastra’ chit fund scam involving Shastra Enterprise Pvt. Ltd.

The court convicted V Sampat and Mallikarjun Raju, managing director and director of Shastra Enterprise Pvt. Ltd., respectively. The duo was sentenced to seven years imprisonment and fined Rs 4.21 lakh each.

Two other accused, Sadashiv Nayak of Kusuda in Mayurbhanj and Tapan Barik of Takatpur Baripada were sentenced to three years of imprisonment and fined Rs 60,000 each.

However, the court acquitted Partha Sarathi Jena, the owner of the house where Shastra’s office is housed.

Kshirod Chandra Barik, a resident of Baripada town, had filed a complaint against the fraudsters in the local Town police station and a case (301/2.11.2020) was registered.

Later, the case was transferred to the Crime Branch, which arrested V Sampat and Mallikarjun Raju on charges of duping 10,237 people of Rs 4.83 crore.

The court examine 57 people and 79 documents during the trial and gave its verdict on Tuesday. Pranab Kumar Panda, Special Public Prosecutor of the Chit Fund Court and senior lawyer, represented the prosecution in the case.

 

OB Bureau

Recent Posts

Odisha CM Directs To Supply 3 Months’ PDS Rice To Beneficiaries In Advance

Bhubaneswar: Odisha Chief Minister on Tuesday issued direction to provide rice of three months' quota…

November 5, 2024

[Watch] Salman Khan Shoots For ‘Sikander’ In Falaknuma Palace Amid Tight Security

Mumbai: In the wake of a fresh death threat by the Lawrence Bishnoi gang, actor…

November 5, 2024

Bachchan Family Upset With Nimrat Kaur, To Take Action Against Source Of Rumour

Mumbai: Rumours about Abhishek Bachchan and Aishwarya Rai’s divorce have been doing the rounds for…

November 5, 2024

Surge In Patients With Respiratory Issues In Delhi Hospitals

New Delhi: Hospitals across Delhi are witnessing a spike in the number of patients with…

November 5, 2024

ISKCON Cancels ‘Untimely’ Rath Yatra In Houston

Bhubaneswar: Facing a strong opposition from the devotees of Lord Jagannath and Puri Gajapati Maharaja…

November 5, 2024

[Watch] Is Abhishek Bachchan’s ‘I Want To Talk’ Similar To Dad Amitabh’s ‘Piku’?

Mumbai: The trailer of the highly-anticipated Abhishek Bachchan starrer ‘I Want to Talk’ was unveiled…

November 5, 2024

One Killed, Two Injured In Mukhyamantri Bus-Bike Collision In Odisha’s Ganjam

Berhampur: One person was killed and two others were injured in a collision between a…

November 5, 2024

Raveena Tandon’s Daughter To Debut With Ajay Devgn’s Nephew

Mumbai: Bollywood actress Raveena Tandon’s beautiful daughter Rasha Thadani is all set to make her…

November 5, 2024