Bhubaneswar: A special Chief Judicial Magistrate (CJM) court of CBI Friday handed down five years of rigorous imprisonment (RI) to former director of Artha Tatwa (AT) Group Jagabandhu Panda for his involvement in the multi-crore chit fund scam in the state.
The court also found him guilty in the Swastik India Multi State Credit Cooperative chit fund scam and awarded him three years jail term.
Panda confessed before the court about his involvement in the scam. He was arrested by the Commissionerate Police May 28, 2013 in connection with the `500- crore chit fund scam. However, he got bail from the High Court in December 2017.Panda was arrested by CBI on charges of embezzling nearly `100 crore from AT Group of companies.
Suggest A Correction
