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Odisha finance firm chief gets 3 year jail in chit fund scam

Odisha finance firm chief gets 3 year jail in chit fund scamBhubaneswar, July 18 (IANS) A special CBI court here on Tuesday sentenced Micro Finance Ltd CMD Durga Prasad Mishra to three years in jail in a chit fund scam in Odisha.

The Central Bureau of Investigation court also asked the company to pay Rs 215 crore as compensation to the scam victims, said sources.

The CBI had arrested Mishra in December 2014 on charges of duping investors to the tune of Rs 400 crore. He has been lodged in Jharpada jail here since then.

 

On July 7, the court had sentenced the company's Managing Director Ashok Kumar Patnaik to three and a half years in jail.

(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)

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Odisha finance firm chief gets 3 year jail in chit fund scam

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Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.