Rose Valley chit fund case: ED attaches assets worth Rs 26.98 crore

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New Delhi: The Enforcement Directorate has attached assets worth Rs 26.98 crore of Rose Valley Group of companies in a chit fund case.

Rose Valley Group chairman Gautam Kundu and others had allegedly collected a huge amount of money from the public by floating fake and fictitious schemes.

The ED had initiated a money laundering investigation on the basis of FIRs registered by West Bengal Police against the accused.

“These group companies had collected a huge amount of money from the common gullible public by floating fake and fictitious schemes and defaulted the re-payments,” said ED in a statement.

Earlier in August, the agency carried out a search operation and seized 7 luxurious vehicles including 2 BMW, 2 Mercedes, 1 Honda Civic, 1 Toyota Fortuner and 1 Mahindra worth Rs 2 Crore belonging to the accused.

ED had also secured the conviction of one of the accused in February this year.