Bhubaneswar: The Special CJM CBI court sentenced Artha Tatwa Group chief Pradeep Sethy to 7-year jail term in connection with the firm’s involvement in the multi-crore chit fund scam in Odisha.
Artha Tatwa director Manoj Patnaik, has been awarded four years of imprisonment. While Sethy has been asked to pay a fine of Rs 30,000, failing which he will be facing six more months of imprisonment, Patnaik has been fined Rs 10,000.
According to sources, the court has directed the group to deposit Rs 250 crore.
Yesterday, Sethy and Patnaik had confessed to their crime before the CBI court. Prior to that, both of them had pleaded guilty and informed the court in writing.
Notably, Artha Tatwa has reportedly duped people of over Rs 500 crore. Along with Sethy, 20 employees of the group have been arrested.