Odisha: Branch Manager of Chit Fund Company gets 3 years jail term

The chit fund company had opened its office at Station Bazaar in Balasore and duped lakhs of rupees from several investors with lucrative and heavy returns.

Balasore: The Branch Manager of Real Vision International Ltd, a chit fund company, has been sentenced to three years of jail term by the Special court of Balasore.

Apart from the jail term, the court also imposed a fine of Rs 62, 000 on the convict, identified as Rohit Sahoo. He will have to serve two more years of jail term if fails to pay the fine, said sources.

The court pronounced the sentence after hearing 13 witnesses and 26 affidavits, added the sources.

It is to be noted here that the chit fund company had opened its office at Station Bazaar in Balasore and duped lakhs of rupees from several investors with lucrative and heavy returns.

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