Chit fund scam: Enforcement Directorate arrests Rose Valley representative

Kolkata: The Enforcement Directorate on Friday arrested a person who was allegedly collecting money through different schemes and repaying back the debenture holders of ponzi firm Rose Valley.

 

An ED source told PTI that Amit Banerjee was arrested shortly after he went to the  directorate office here.

 

Banerjee, he said, was raising money by floating different schemes from the public and was repaying back the debenture holders of Rose Valley out of the crime proceeds.

 

The ED had filed a case on the basis of a SEBI complaint that Rose Valley was illegally issuing debentures to the public, following which its chairman Gautam Kundu was arrested.

 

Banerjee was also managing the business of Rose Valley in the absence of Kundu, the source said adding that he was also wielding muscle power and threatening investors who were willing to file complaint with the police.

 

ED had earlier issued summons to him which he did not respond and instead went to the Calcutta High Court for  getting a breather.

 

The High Court asked him to go and report to the ED office.

 

The IT returns of Banerjee showed he received a commission of Rs 1 crore from Rose Valley which was believed to be under-disclosed.