Odisha chit fund scam: AT Group chief Pradip Sethi sentenced to 7yrs in jail

Odisha Sun Times Bureau
Bhawanipatna, Apr 6:

The Spl CBI Chief Judicial Magistrate (CJM) Court here today sentenced Ponzi firm Artha Tatwa (AT) Group Chief Pradip Sethi to seven years imprisonment after he pleaded guilty to defrauding investors of their money.

In addition to that, the court imposed a fine of Rs 30,000 on him.

On failure to pay the fine Sethi will be required to undergo another six months imprisonment, the court ordered.

The court also sentenced Manoj Patnaik, another director of AT Group to four years in jail. In addition to that, the court imposed a fine of Rs 10,000 on him.

The Court has directed AT Group to deposit Rs 250 crore with it within the stipulated period failing which their properties will be attached.

Both Sethi and Patnaik had pleaded guilty before the court yesterday.

It may be mentioned here that Sethi was arrested by Twin City Commissionerate police on May 13, 2013, in connection with the AT Group scam.