The Enforcement Directorate on Thursday filed its first chargesheet in the Rose Valley ponzi scam case. The agency has arrested the group’s chairman Gautam Kundu after a SEBI complaint.
Kundu’s name figured in the chargesheet. After five days of ED custody, Kundu had been remanded to 10 days of jail custody on Tuesday.
“We will file four more chargesheets in the Rose Valley case at a later date which would be mainly look after the criminal conspiracy angle”, the official said.
On the basis of SEBI complaint, ED had discovered that Rose Valley had garnered more than Rs. 15,000 crore from public through issue of various financial instruments which did not have sanction of the capital market regulator.
ED had also frozen numerous bank accounts and fixed deposits of the Rose Valley group.
Rose Valley had ventured out in the areas of tourism, hospitality and media.