Home ODISHA LATEST Odisha chit fund scam: Astha Intl CMD, director convicted

Odisha chit fund scam: Astha Intl CMD, director convicted

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Odisha Sun Times Bureau
Bhubaneswar, Apr 13:

The Special CBI Court here today convicted Ponzi firm Astha International Ltd’s chairman-cum-managing director Santosh Kisan Sabkale and another director Chandrasinh Chauhan Shivaji, reports said.

The duo had through a submission before the court pleaded guilty to the charges against them yesterday.

The court is likely to pronounce sentences against the duo on Saturday, reports added.

Notably, Subhransu Lenka, Odisha head of Astha International Ltd is currently lodged in the Jharpada Special Jail here.

The Ponzi firm which had its headquarters in Gujarat has allegedly defrauded Rs 100 crore from investors in Odisha.

Barely a week ago another Ponzi firm Artha Tatwa (AT) Group’s chairman-cum-managing director Pradip Sethi and another director Manoj Patnaik had pleaded guilty and were sentenced by the same court.