Rose Valley Group official sent to 7 yrs jail in money laundering case
By IANS |
Published on
Sat, Feb 13 2021 14:18 IST |
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Crime. (File Photo: IANS). Image Source: IANS News
New Delhi, Feb 13 : A Special PMLA court has sent Rose Valley Group official Arun Mukherjee to seven years imprisonment with a fine of Rs 2.5 lakh in connection with a money laundering probe.
An ED official here said that the Special PMLA court on Friday evening sentenced Mukherjee to seven years imprisonment with a fine of Rs 2.5 lakh and default rigorous imprisonment for another 6 months.
The financial probe agency had registered a case against Rose Valley Real Estates Construction Ltd. its Chairman Gautam Kundu along with other persons related to the company in 2014.
Rose Valley Group officer jailed for 7 years in money laundering case, Delhi News in Hindi
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A court here on Friday sentenced an official of chit fund company Rose Valley to seven years in jail for duping investors of their money through ponzi schemes floated by the firm.
Judge Anupam Mukhopadhyay of City Sessions Court also slapped a fine of Rs 2.5 lakh on Arun Mukhopadhyay, who was a director in the Rose Valley group.
The court convicted Mukhopadhyay after he admitted that he was guilt during the hearing.
Lawyer for the depositors Arindam Das said that thousands of people were duped by the Rose Valley Group, which had set up multiple companies to run their chit fund operations.
CBI arrests Rose Valley group chief s wife in chit fund case
According to CBI sources, the amount of money garnered by Rose Valley through such schemes could be more than Rs 12,000 crore
PTI | January 15, 2021 | Updated 20:12 IST
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.