The court upon recording their statement sent the duo to Lalitpur-based Nakhu jail to carry out their three-year jail terms. The court had also slapped a fine of over Rs 10.62 million.

A group of people were seen outside the court premises to extend their support to the former unity bosses.

The police on Friday had arrested the Chettri brothers, who were wanted for the scam, five years after the Unity Life International scam broke out in 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. 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.