The CBI Special Court here on Thursday granted the CBI a seven-day remand of Rose Valley Group Managing Director Shibamoy Dutta and Director Ashok Kumar Saha for their alleged involvement in the multi-thousand crore chit fund scam.
Earlier, the CBI had arrested both on the charge of their active involvement in cheating the general public and misappropriation of public funds.
In Odisha, the Kolkata-based Rose Valley Group has duped the gullible investors through its 65 branches.
Acting on the 25 cases registered against the ponzi company, the State Crime Branch, which was probing the scam before the investigation was taken over by the CBI on the Supreme
Court direction, had raided the company’s offices in June 2013.
The Economic Offences Wing (EOW) of the Crime Branch in June last year had moved the State Finance Department for confiscation of properties of the firm.
The property details included 17 acres of land in Baleswar and Puri and bank deposits worth Rs53 crore.