Odisha chit fund scam: Wetell Group Director gets 5-year jail term

Odisha Sun Times Bureau
Bhubaneswar, May 2:

A local court in Odisha today awarded five year jail term to a top official of a Ponzi firm for duping investors in Odisha.

The Special CBI court here sentenced Director of Wetell Group Thakur Amardeep Singh to five years jail term. Besides, the court also directed to deposit Rs 100 crore with court’s registry which shall be paid to the depositors as compensation as per the law.

It may be mentioned here that on April 24, Singh pleaded guilty of all charges in writing before the court. He was arrested from Nagpur and is currently lodged in Jharpada Special Jail here.

In a related development, five accused in Real Tulip India Ltd chit fund scam including CMD, MD and directors of company today pleaded guilty of all charges before court.