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BHUBANESWAR: On the run for the last eight years, Bikramjit Bhowmik (51), who was the regional manager of dubious Rose Valley chit fund company in Odisha, has been arrested by the economic offences wing (EOW) of the state Crime Branch from East Midnapore district on Monday.
The Rose Valley Group is accused of having cheated investors of about Rs 17,000 crore in the country, at least four times more than the Saradha Group scam. In Odisha, the company allegedly duped depositors of nearly Rs 450 crore.
The Rose Valley scam, involving several cases registered in different police stations in the state, is being separately probed by the CBI and state EOW. Bhowmik was wanted by the EOW in a cheating case registered against the company at Soro police station in Balasore district in 2013.