India News | CBI Arrests Wife of Rose Valley Group Chief in Chit Fund Case
Get latest articles and stories on India at LatestLY. The Central Bureau of Investigation on Friday arrested Subhra Kundu, wife of Rose Valley Group chairman Gautam Kundu, from the city in connection with the probe into the multi-crore chit fund scam, sources in the investigating agency said.
Kolkata, Jan 15 (PTI) The Central Bureau of Investigation on Friday arrested Subhra Kundu, wife of Rose Valley Group chairman Gautam Kundu, from the city in connection with the probe into the multi-crore chit fund scam, sources in the investigating agency said.
Sleuths of the Economic Offences Wing of CBI apprehended Kundu 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. PTI dc
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)