The money laundering probe being carried out by ED is based on the cases registered by the West Bengal police against the Rose Valley group
The Enforcement Directorate has attached assets worth ₹26.98 crore of the Rose Valley group of companies in connection with a Ponzi scam.
The properties include land parcels, hotels, bank balance and demand drafts attributed to the group entities.
The money laundering probe being carried out by the agency is based on the cases registered by the West Bengal police against the group, its chairman Gautam Kundu and others.
In February, the agency had secured the conviction of one Arun Mukherjee in the case, in which funds were collected from thousands of investors. He was sentenced to seven years’ rigorous imprisonment by the trial court. The convict used to work as a debenture trustee and was responsible for a Rose Valley company’s affairs.
Source: Read Full Article