India, May 18 -- A Thane court has sentenced a financial advisor to two years' rigorous imprisonment in a case of criminal breach of trust filed by a woman and imposed a fine of Rs 30 lakh on him.

Special court judge G T Pawar, however, cleared the accused, Mateshwar Rajpat Giri, of charges of cheating under the IPC, as well as stringent provisions of the Banning of Unregulated Deposit Schemes (BUDS) Act, noting the legislation came into effect after the offence occurred.

The court, in the judgment passed on Saturday, ordered that the entire fine amount of Rs 30 lakh, once recovered, be paid as compensation to the woman, a resident of Thane in Maharashtra.

According to the prosecution, the woman, who lost her husband and brother in a r...