Bhubaneswar: The Chief Judicial Magistrate(CJM) court here today sentenced Chief Of Artha Tatwa(AT) group of companies, Pradeep Sethi, to seven years of rigorous imprisonment(RI) in connection with the chit fund scam.
Pradeep Sethi was found guilty in a case lodged against him in the Kharavela Nagar police station under the Commissionerate Police here.
Two other directors of the AT group, Manoj Pattanaik and Srikrushna Padhi, too have been sentenced to seven years of rigorous imprisonment by the CJM court for their alleged complicity in the ponzi scam.
All the three were booked under several charges including 420(cheating) and 120-B(criminal conspiracy) of the Criminal Procedure Code.
Earlier, the special CBI court too had awarded seven years of jail term to Pradeep Sethi for duping thousands of depositors on the pretext of providing astronomical interest rates on investments while Manoj was awarded four year jail term.