ED files fresh fraud case against Rose Valley Group involving Rs 2,700 crore

Kolkata: The Enforcement Directorate (ED) on Saturday filed a fresh case against three companies under Rose Valley at the Special Court of Central Bureau of Investigation at City Sessions Court in Kolkata.

According to ED sources, the new case involves fraud of around Rs 2,700 crore of the group which includes its hotels, real estate and the entertainment wing as well.

The ED has prayed for the summons against a number of people associated with the company whom they want to interrogate in connection with the investigation of the case.

A case has also been initiated against these persons under Section 420 (forgery) and 120B (criminal conspiracy) of the IPA and under Prevention of Money Laundering (PMLA) Act. It may be mentioned that the ED had already attached assets worth Rs 2,300 crore, including two dozen hotels and resorts, in connection with its money laundering probe in the Rose Valley ponzi scam case. As many as 11 resorts, nine hotels and few other such facilities, a plot of around 200 acres and 414 land parcels spread across Bengal have already been attached.

The ED had registered an FIR against the firm, its chairman Gautam Kundu and others in 2014 under the PMLA Act. Kundu was arrested by the agency in Kolkata in March 2015. He had allegedly mopped up Rs 17,000 crore from investors, alluring them with high returns, through a web of 27 companies.