Home ODISHA LATEST Odisha chit fund scam: Real Tulip chief gets 4-year jail term

Odisha chit fund scam: Real Tulip chief gets 4-year jail term

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Odisha Sun Times Bureau
Bhubaneswar, May 12:

A local court in Odisha capital today sentenced five top officials of a Ponzi firm for defrauding investors.

Special CBI court here sentenced MD of Real Tulip India Ltd (RTIL) to four years and four directors to three years each.

The convicted have been identified as Dipankar Ghosh, Malay Halder, Prasenjit Sil, Tirtha Halder and Malay Kumar Guha.

Besides, the court also directed to deposit Rs 29 crore with court’s registry which shall be paid to the depositors as compensation as per the law.

Notably, the sentencing comes ten days after the five accused on May 2 had pleaded guilty of all charges before the court.