ED ATTACHES ROSE VALLEY ASSETS

User Rating: 0 / 5

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
 

ED attaches Rose Valley  assets worth Rs 293 crore

 

Report;Bureau,odishabarta

 

Kolkata,28th July: The Enforcement Directorate (ED) on Friday attached assets worth Rs 293 crore in connection with the Rose Valley chit fund scam case in which thousands of people were allegedly cheated in West Bengal and Odisha, officials said. 

 

The central probe agency’s regional office here issued a provisional attachment order under sections of the Prevention of Money Laundering Act (PMLA) and with this fresh action, the total attachment in this case stands at Rs 1,950 crore (market value).

 

ED had registered a criminal FIR against the firm, its Chairman Gautam Kundu and others in 2014 under the PMLA. 

 

Kundu was arrested by the agency from here in 2015 and he is currently in judicial custody.

 

Multiple charge sheets have been filed in the courts in Kolkata and Bhubaneswar by the ED in this case. The group had allegedly floated a total of 27 companies for running the alleged chit fund operations out of which only half-a-dozen were active. 

 

It is alleged that the firm had floated the scheme by promising inflated returns on investments between 8 and 27 per cent to gullible investors in various states.

 

The SEBI had probed the company before the ED and the CBI registered cases against the group.

 

The ED has pegged the total volume of the alleged irregularities at Rs 15,000 crore.

 

 

 

#pns

DEBSUBH MEDIA
1ST Floor, Mahapatro Building
Telephone Bhaban Road
BERHAMPUR-760001, 
GANJAM,ODISHA,INDIA
Contact- +919437298989
130088744
Today
Yesterday
This Week
Last Week
This Month
Last Month
All days
3453
3381
16892
765087
57552
64097
130088744

Your IP: 54.163.53.153
2018-02-22 18:09