BHUBANESWAR: A Special CBI court convicted two directors of ponzi firm Rightmax Technotrade International Ltd and sentenced them to three years of rigorous imprisonment here on Tuesday.
Court of Special CJM (CBI) Prashant Kumar Mishra found Gunasekaran Murugan and Murugavel Nachimuthu guilty under six counts. Apart from the jail term, the two have also been ordered to pay a fine of Rs 15,000 each. The two directors had earlier pleaded guilty to the charges. Rightmax Technotrade is accused of collecting and misappropriating about Rs 17.6 crore from depositors.
The CBI had registered a case in 2014 after taking over investigation of two FIRs registered with Chatrapur and Paralakhemundi police stations.
After investigation, the agency submitted chargesheet under Sections 120-B, 409 and 420 of Indian Penal Code and Sections 4/5/6 of Prize Chits and Money Circulation Schemes (Banning) Act, 1978 against Murugan and Murugavel along with others.