Bhubaneswar: A special CBI court here awarded three years’ imprisonment and imposed a fine of `15,000 on Green India director Sunil Panda Thursday for his involvement in the multi-crore chit fund scam that rocked the state a few years back.
Earlier, Sunil Panda had pleaded guilty of all charges brought against him in the capacity of the director of Green India in a
written submission before the court here.
The Central Bureau of Investigation (CBI) had filed its first chargesheet against chit fund group Green India December 2, accusing the company of
defrauding depositors to the tune of at least `30 crore.
In the 188-page chargesheet filed in the special CBI court here, the central investigating agency charged three top executives
of the company under various sections of the Indian Penal Code and under Section 456 of
the Prize Chit and Money Circulation (Banning) Scheme Act, 1978.
The chargesheet had named as many as 300 people as witnesses in the case.
Chief executive officer of Green India Pradeep Singh and
directors Sunil Panda and Jitendra Mishra have been charged under Sections 420 (cheating), 120 B (criminal conspiracy), 409 and 509 of the IPC.
Pradeep and Jitendra are currently under judicial custody, it is learnt.
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