Home ODISHA LATEST Chit fund firm MD awarded 5-yr jail term in Odisha

Chit fund firm MD awarded 5-yr jail term in Odisha

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Berhampur: A local court here today awarded five-year jail term to the chit fund accused Santosh Tiadi for duping the depositors in Odisha.

The Odisha Protection of Interest of Depositors (OPID) court in Berhampur pronounced the sentence to the SS Depositors MD Santosh and slapped him with the fine of Rs 11.5 lakh.

Besides, six other employees of the chit fund firm were sentenced to two-year in prison with Rs 2 lakh fine each.

The ponzi firm had allegedly duped 30 lakh depositors alluring them of high returns.