Ponzi scam: Artha Tatwa chief Pradeep Sethy gets 7-yr jail term

Bhubaneswar: The Bhubaneswar Chief Judicial Magistrate (CJM) Court today sentenced Artha Tatwa Group chief Pradeep Sethy to seven years of imprisonment for his involvement in the multi-crore chit fund scam in the state.

The court convicted Sethy in connection with a case registered at the Kharvel Nagar police station here. The court also awarded 7 years’ of jail term, each, to Manoj Patnaik and Sri Krishna Padhee for their involvement in the ponzi sacm.

Earlier on April 6, the Special CJM CBI court had sentenced the Artha Tatwa Group chief to seven-year jail term in connection with the firm’s involvement in chit fund scam.

Notably, Artha Tatwa has reportedly duped people of over Rs 500 crore. Along with Sethy, 20 employees of the group have been arrested.