The Chief Judicial Magistrate (CJM) Court here on Mondaysentenced Artha Tatwa (AT) 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 Kharavel Nagar police station here. The court also awarded seven years’ of jail term, each, to the company directors Manoj Patnaik and Krishna Padhee for their involvement in the chit fund scam.
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. Chit fund company Artha Tatwa has reportedly duped people of over Rs 500 crore. Along with Sethy, 20 employees of the group have been arrested.