By Bizodisha Bureau, Bhubaneswar, April 6, 2017 : The Special chief judicial magistrate (CBI) on Thursday sentenced Artha Tatwa Group chief Pradeep Sethy to 7-year jail term for his role in the multi-crore chit fund scam in Odisha.

Similarly, Artha Tatwa director Manoj Patnaik, has been awarded four years of imprisonment. While Sethy has been asked to pay a fine of Rs 30,000, failing which he will be facing six more months of imprisonment, Patnaik has been fined Rs 10,000.

The court also has directed the group to deposit Rs 250 crore, sources said.

Sethy and Patnaik on Wednesday had confessed to their crime before the CBI Court. Prior to that, both of them had pleaded guilty and informed the court in writing.

Artha Tatwa is accused to have duped people of over Rs 500 crore. The police also has arrested 20 employees of the group for their involvement in the scame.