The court sent the duo to Lalitpur-based Nakhu jail to serve their three-year jail term. The court had also slapped a fine of over Rs10.62 million on the duo.

Meanwhile, a group of people thronged outside the court premises and chanted slogans in support of the former unity bosses.

The police on Friday had arrested the Chettri brothers wanted for the scam, five years after the multi-billion rupee Unity Life International scam broke out, from Manali of Himanchal Pradesh, India.

The Chhetri brothers, along with ULI Chairman Kashi Ram Gurung, have been convicted of selling social security schemes to people without legal permission and running pyramid model network marketing programmes.

The government probe had concluded that the ULI violated the Bank and Financial Institutions Act, Insurance Act, Securities Act, Cooperatives Act, Foreign Exchange Act, Revenue Leakage (Control) Act and Consumer Rights Protection Act, among others.