Bhubaneswar, Sept. 24 -- The designated Odisha Protection of Interests of Depositors (OPID) Act Court in Cuttack today convicted the mastermind of a fraudulent investment scheme and sentenced him to undergo ten-year rigorous imprisonment for deceiving gullible investors to the tune of Rs 14 crore.
The accused Pabitra Kumar Sahoo was awarded the sentence under the relevant sections of Prize Chits and Money Circulation Schemes (Banning) Act, the OPID Act and Indian Penal code on the deposition of nine prosecution witnesses including two investigating officers, said Biswajit Mohapatra Special Public Prosecutor, OPID Court, Cuttack.
The Economic Offences Wing of Odisha police had taken up the investigation of the fraud case following the Oris...