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Rose Valley Odisha head arrested from Bengal after 8 years | Bhubaneswar News


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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. ....

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Supreme Court Grants Bail To Bengali Film Producer Srikant Mohta Accused In 1400 Crore Chit Fund Scam


Supreme Court Grants Bail To Bengali Film Producer Srikant Mohta Accused In 1400 Crore Chit Fund Scam
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After rejection of three successive bail applications by the Orissa High Court, the Supreme Court on Monday granted bail to Bengali film producer Srikant Mohhta, who was arrested by CBI in January 2019 for his alleged complicity in a chit fund scam case. The bench headed by Justice D. Y. Chandrachud was hearing Mohta s SLP against the December 1, 2020 decision of the High Court denying him.
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