May 08, 2021
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Rose Valley Group Chief’s Wife Arrested By CBI In Chit Fund Case

The group has allegedly cheated thousands of depositors, promising high returns on investments in its illegal schemes.

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Rose Valley Group Chief’s Wife Arrested By CBI In Chit Fund Case
CBI arrested Rose valley chief's wife in Ponzi scam
Rose Valley Group Chief’s Wife Arrested By CBI In Chit Fund Case
outlookindia.com
2021-01-15T17:00:27+05:30

Subhra Kundu, the wife of Rose Valley Group chairman Gautam Kundu, was arrested by the CBI from Kolkata in connection with the probe into the multicrore-rupee chit fund scam, sources in the investigating agency said.

Sleuths of the Economic Offences Wing of the CBI apprehended Subhra for her alleged role in the Ponzi scam, they said.

She had been wanted by the CBI and another investigating agency --- Enforcement Directorate (ED) --- in connection with the case.

The group has allegedly cheated thousands of depositors, promising high returns on investments in its illegal schemes.

According to CBI sources, the amount of money garnered by Rose Valley through such schemes could be more than Rs 12,000 crore.

Gautam Kundu has also been in jail since March 2015.

His wife was also running a jewellery chain --- Adrija --- which has been sealed since the investigation started.

Rose Valley had also made substantial investments in hotels and resorts across the country, they said.

With PTI Inputs

 


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