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Chit fund scam: Court awards five-year jail term to Pradeep Sethy

chit fund

Sambalpur:  The Sambalpur Chief Judicial Magistrate (CJM) court on Wednesday awarded five-year imprisonment to Artha Tatwa (AT) Group chief Pradeep Sethy in connection with a fraud of Rs 5 lakh.

The court pronounced the quantum of punishment hearing a case filed by one Raghumani Das of Burla in the district.

Along with five-year jail term, the court ordered Sethy to pay Rs 2 lakh as fine to the petitioner, failing which he will face another one-year jail term.

Government advocate Gyanaranjan Das informed that the court sentenced jail term on Sethy after he pleaded guilty to the crime of committing fraud and deceiving an amount of Rs 5 lakh to the petitioner.

Earlier this year, a special CBI court in Bhubaneswar sentenced Sethy to 7-year imprisonment in connection with multi-crore chit fund scam.

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