Ponzi scam: MD, 6 staff of SS Depositors convicted

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Berhampur: A special designated chit fund court in Berhampur on Thursday convicted the managing director and six other employees of SS Depositors, a chit fund company.

The court found MD of SS Depositors, Santosh Tiadi, guilty under Odisha Protection of Interest of Depositors (OPID) Act and sentenced him to five years imprisonment. The court also imposed a penalty of Rs 11.5 lakh on the convict.

Similarly, the court convicted six other employees of the dubious money circulation company and sentenced them to two years jail term each. Besides, the court imposed a penalty of Rs 2 lakh each on the convict.

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