Chit fund scam: Waytel Chit Fund MD awarded 5-yr jail

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Indian-origin landlord jailed

Bhubaneswar, May 3: Yesterday a special CBI court here sentenced Waytel Chit Fund Managing Director Thakur Amardip Singh to a five year imprisonment who is guilty in duping investors of their money. Thakur has also been asked to deposit a sum of Rs 100 cr at the court’s registrar. On April 24, Singh called himself guilty on all charges from Nagpur in writing before the court. Singh’s fraud company allegedly collected money from small investors in Odisha in giving them hopes of high returns between 15 to 20 per cent.

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