The Chief Judicial Magistrate's court convicted Sethy, Manoj Patnaik and Srikrushna Padhi in connection with a case registered at the Kharvel Nagar police station here.
They were found guilty under IPC Sections 420 (cheating), 406 (criminal breach of trust) and 120B (criminal conspiracy).
The case was lodged by one Priyabrat Mallick who had invested Rs 2.5 lakh in a scheme of Artha Tatwa but did not get what he was promised.
Artha Tatwa has allegedly duped people of over Rs 260 crore. Alongwith Sethy, 20 employees of the group have been arrested.
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