Bhubaneswar: Managing Director of chit fund company Vibgyour Group Pabitra Kumar Sahoo was on Wednesday convicted by a special court in for duping gullible investors of over Rs 14 crore in Odisha.

While convicting Sahoo, the special court under Odisha Protection of Interest of Depositors (OPID) Act in Cuttack sentenced him to imprisonment for ten years. ADVERTISEMENT

The court also imposed a fine of Rs 70,000 under multiple sections.

It may be noted that, police had arrested Sahoo from Banpur in Khurda district in 2015 for defrauding investors of Rs 14 crore.

He was booked under sections 420, 120(B) of IPC and Sections 4, 5 and 6 of Prize Chit and Money Circulation Scheme (Banning) Act 1978 and Section 6 of the OPID Act.

Sahoo, a resident of Bolagada in Khurda district, was held for

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