CBI Court awards 3-year jail term to Nabadiganta CMD

A Special Court of the CBI pronounced three-year jail term for Anjan Baliarsingh, CMD of Nabadiganta chit fund firm. In addition, he would have to pay a fine of Rs 15,000.

The Court has also asked his firm to deposit Rs 10 crore as compensation.

Anjan, who was arrested in 2014 in the multi-crore chit fund scam was found guilty of all charges. He was charged of duping investors to the tune of Rs 15,000 crores.