Enforcement Directorate Takes Possession Of Assets Worth Rs 304 Crore In Rose Valley Case Enforcement Directorate Takes Possession Of Assets Worth Rs 304 Crore In Rose Valley Case The Rose Valley group of companies had collected huge amount of money from gullible public by floating various fake and fictitious schemes and defaulted the re-payments.
Multiple charge sheets have been filed by the Enforcement Directorate in this case so far
New Delhi:
The Enforcement Directorate (ED) today said it has taken possession of assets worth Rs 304 crore in connection with its money laundering case in the alleged Rose Valley ponzi scam that took place in West Bengal and Odisha.
ED attaches assets worth ₹304 crore of Rose Valley Group
April 30, 2021
Central probe agency had registered an FIR against the firm and its chairman in 2014 Enforcement Directorate has taken possession of movable and immovable properties worth ₹304 crore of Rose Valley Group of companies under prevention of money laundering rules.
The central probe agency had registered an FIR against the firm, its Chairman Gautam Kundu and others in 2014.
The Rose Valley scam is an old-fashioned Ponzi scheme promise the moon, collect and rotate money in loop until the fun finally stops. Entities affiliated to the group Rose Valley Real Estates and Constructions and Rose Valley Hotels and Entertainment garnered thousands of crores from investors, primarily in the eastern States. These sums were ostensibly instalments for property purchases or holiday packages. But investors also had the option of getting their money back with a tidy interest up to 21 per cent annualised. On being c
Search ED takes possession of assets worth Rs 304 crore in Rose Valley case Seized items include 412 movable properties and 426 immovable properties
The Enforcement Directorate on Friday said it has taken possession of assets worth Rs 304 crore in connection with its money laundering case in the alleged Rose Valley ponzi scam that took place in West Bengal and Odisha. Possession has been taken of properties of the Rose Valley group of companies throughout West Bengal, Tripura and Odisha under the Prevention of Money Laundering Act (PMLA), the central probe agency said in a statement. This includes 412 movable properties amounting to Rs 47 crore and 426 immovable properties worth Rs 257 crore, it said.
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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.