5-year prison term for Astha Group’s MD, Director

Bhubaneswar: In a latest development, the special CBI CJM court here, pronouncing judgement on the multi crore Astha Chit Fund scam, sentenced company’s Managing Director Santosh Sapkale and Director CS Chouhan for five years of imprisonment along with a fine of Rs 15,000 each.

The court has ordered three more months of imprisonment for the duo in case they fail to pay the fine. Besides, it has also directed the company to deposit Rs 75 crore failing which its properties will be attached.

Earlier on April 12, both the accused had pleaded guilty to defrauding investors of their money.

It is pertinent to note here that the Gujarat based ponzi firm had allegedly duped people of around Rs 100 crore through its various branches in the state.