The Special CBI CJM court here on Friday pronounced Microfinance limited chief Durga Prasad Mishra guilty in connection with the chit fund scam. It wais alleged that the company had duped investors of more than Rs 500 crore in the State.
The quantum of punishment is to be pronounced next week on Tuesday. Earlier, Mishra had pleaded guilty of the charges in the court in writing.
A director of the company, Ashok Patnaik, had too pleaded guilty in the case and was sentenced to three years n jail and asked to pay a fine of Rs 105 crore.
The CBI had arrested Mishra in 2014, and from that time he is lodged in the Jharpada jail here.