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Man gets 7-year RI for crypto fraud
Orissa POST
|May 01, 2025
A court in Balasore district Wednesday sentenced a man to seven years of rigorous imprisonment (RI) after he was found guilty of fraud in crypto investment.
The designated court set up under Odisha Protection of Interests of Depositors (in Financial Establishments) Act, 2011, also slapped a penalty of ₹2.35 lakh on convict Nilesh Kumar Kar. He was convicted under different sections of the Indian Penal Code (IPC) and Information Technology (IT) Act.
The case was registered April 5, 2023, and the accused Nilesh Kar was arrested April 6, 2023, from Balasore.
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