Siddha Mahapurusha Mani Society Chit Fund Scam: 7 Awarded 7 Years Of Rigorous Jail Term

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Cuttack: A special Odisha Protection of Interests of Depositors (OPID) court has awarded 7 years of rigorous imprisonment to seven people in Siddha Mahapurusha Mani Society Chit Fund scam.

Apart from sentencing the accused person to seven years of imprisonment each, the special OPID court also imposed fine on them.

In 2016, the Siddha Mahapurusha Mani Society Chit Fund in Kendrapara district was accused of defrauding people of more than Rs 4 crore by luring people without registration. Some of the victims of the scam had complained to the Nikirai police station.

While hearing the case today, the court fined Laxmipriya Raut, Smitanjali Raut, Sanjeev Raut and Manoj Lenka fined Rs 5 lakh and sentenced them to seven years in jail under the IPC and OPID Act 7 for fraud. The OPID court also sentenced the culprits to two years imprisonment under the Money Circulation Act.

In another case, the court sentenced Bhagyavati Raut and Duryodhana Bhuyan to seven years in prison and fined them Rs 5 lakh each.

Likewise, another accused named Jeevandeep Raut was sentenced to seven years in prison under the IPC and OPID Act and a fine of Rs 5 lakh was imposed on him.  This apart, he also has been awarded two years of imprisonment under the Money Circulation Act.

It is to be noted that the Nikirai police had arrested the seven persons for their involvement in the ponzi scam.

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