CUTTACK: The Special Chit Fund Court, Cuttack on Monday convicted one Amiya Kumar Mohanty and sentenced him to five years of imprisonment under the Odisha Protection of Investors Deposits (OPID) Act. The court also imposed Rs 1 lakh fine on him.
The court further directed for distribution of Rs 80,000 (Rs 20,000 each among the four investors who were witnesses in the case) after collection of the fine amount. Mohanty was charged with unauthorised deposit from public through a micro-finance company by promising to give high returns. He was arrested in 2014 after 18 duped investors lodged complaints at Raghunathpur police station in Jagatsinghpur.