A Bhubaneswar court today sentenced Artha Tatwa Group chief Pradeep Sethy and two of his associates to seven years imprisonment after finding them guilty of being involved in the multi-crore chit fund scam in Odisha.
The Chief Judicial Magistrate's court convicted Sethy, Manoj Patnaik and Srikrushna Padhi in connection with a case registered at the Kharvel Nagar police station here.
They were found guilty under IPC Sections 420 (cheating), 406 (criminal breach of trust) and 120B (criminal conspiracy).
The case was lodged by one Priyabrat Mallick who had invested Rs 2.5 lakh in a scheme of Artha Tatwa but did not get what he was promised.
On April 6, a special CBI court had sentenced Sethy to seven-year jail term in connection with the firm's involvement in the chit fund scam.
Artha Tatwa has allegedly duped people of over Rs 260 crore. Alongwith Sethy, 20 employees of the group have been arrested.
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