Balasore: A special OPID court here has sentenced an executive of chit fund company Kolkata Weir Industries Ltd to three years of imprisonment for defrauding investors.
The Court had also directed Sangram Keshari Patra, branch manager of the Ponzi firm of Udala branch to pay a fine of Rs 61,000.
Patra was accused of defrauding the depositors of lakhs of rupees by promising good profit.
The company had several branch offices in West Bengal, Odisha and Jharkhand.
The firm is accused of collecting hundreds of crores of rupees from the investors in these states.
The company had its registered office at Diamond Harbour, WB.
The CBI was investigating the fraud case.
