Kolkata & Bhubaneswar: The Enforcement Directorate (ED) today attached assets worth Rs 293 crore in connection with the Rose Valley chit fund scam case in which thousands of people were duped in West Bengal and Odisha.
The central probe agency’s regional office issued a provisional attachment order under the Prevention of Money Laundering Act (PMLA). With the latest attachment order, the total attachment in this case has gone up to Rs 1,950 crore.
The Enforcement Directorate (ED) had registered criminal cases against the ponzi firm, its Chairman Gautam Kundu and several others in 2014. Chairman Gautam was arrested by the ED agency from Kolkata in 2015 and he is currently in judicial custody.
Multiple charge sheets have been filed in the courts in both Kolkata and Bhubaneswar by the ED in this case.
The group had allegedly launched 27 companies for running its operations out of which barely six were active while other companies were allegedly shell firms. It was alleged by the ED that the firm had floated the scheme by promising high returns on deposits between 8 to 27 per cent to attract investors. .
The SEBI had probed the company before the ED and the CBI had registered cases against the Rose Valley group of companies.
The ED has estimated the total volume of the alleged irregularities at Rs 15,000 crore.