Rose Valley Group scam: ED carries out seach operation in Kolkata, seizes 7 luxurious vehicles

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New Delhi: The Enforcement Directorate has carried out a search operation on 24.08.2021 in a posh locality in Kolkata in the case of Rose Valley Group of companies, which resulted in the seizure of 7 luxurious vehicles which includes 2 BMW, 2 Mercedes, 1 Honda Civic, 1 Toyota Fortuner and 1 Mahindra Scorpio under PMLA, 2002. The said vehicles were acquired out of the proceeds of crime collected by the companies of Rose Valley.

ED initiated a money-laundering investigation on the basis of FIRs registered by West Bengal Police against the Rose Valley Group of companies, its Chairman Gautam Kundu and others. In the FIRs, it was alleged that these Group companies had collected a huge amount of money from the common gullible public by floating various fake and fictitious schemes and defaulted the re-payments.

ED has already attached and seized properties worth Rs. 1074 Crore. ED also secured a successful conviction of Arun Mukherjee in the month of February this year. He was holding the debentures of Rose Valley Group of companies. The Ld. Special Court (PMLA), Kolkata had convicted him and awarded imprisonment of 7 years of rigorous imprisonment and fine of Rs. 2,50,000.