Chitfund scam: CBI conducts searches at Rose Valley premises

The CBI carried out searches at 43 locations of ponzi firm Rose Valley across the country on Wednesday in connection with the chit fund scam.

Kolkata: The CBI carried out searches at 43 locations of ponzi firm Rose Valley across the country on Wednesday in connection with the chit fund scam.

CBI spokesperson said 27 locations of the company in West Bengal were searched, seven in Tripura, one each in Odisha, Assam, Delhi, Uttar Pradesh, Maharashtra, Bihar, Jharkhand, Chattisgarh and Tamil Nadu.

The searches were part of the ongoing investigations into the chit fund scam, the spokesperson said.

Besides CBI, the Enforcement Directorate(ED) is also conducting probe against the company and has frozen few hundreds of bank accounts and fixed deposit certificates.

ED is of the opinion that money raised by Rose Valley was six times bigger than that raised by Saradha Group.

It is also in the process of attaching Saradha Group properties worth Rs 500 crore shortly.  

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