Balasore, Jul 28 (PTI) The branch manager of a Ponzi firm was sentenced to three years in jail after a court here convicted him in a fraud case.
Special judge Biswajit Das also imposed a penalty of Rs 62,000 on Rohit Sahu, the branch manager of Real Vision International Ltd.
Sahu was convicted under IPC sections 420 (cheating), 406 (criminal breach of trust), 120b (criminal conspiracy) and 34 (acts done by several persons in furtherance of common intention), besides the Prize Chits and Money Circulation Schemes (Banning) Act.
A case was registered against Sahu in May, 2013, in the Baripada police station following complaints from the investors that they were duped by him.
The investors alleged that his firm siphoned off their money after promising them lucrative returns.
The court convicted him after examining 13 witnesses. PTI CORR AAM SOM SOM
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