The Enforcement Directorate (ED) has taken possession of movable and immovable properties worth Rs 304 crore of Rose Valley Group of companies in a chit fund related money laundering case.
The case under Prevention of Money Laundering Act (PMLA) was recorded against Rose Valley Group of companies as it was found that the Group companies had collected huge amount of money from the gullible public by floating various fake and fictitious schemes and defaulted in the re-payments. Investigation under PMLA has revealed that several properties in West Bengal, Odisha, Tripura, Assam, Maharashtra, Jharkhand and others States were acquired in the name of various companies of Rose Valley Group, by illegally diverting the funds collected from the public.
After investigation, the ED had attached the properties found to have been acquired from the proceeds of crime (amount collected by way of selling fake and fictitious schemes) and the orders of provisional attachment of said properties were confirmed by the Adjudicating Authority (PMLA), New Delhi, it said.
The ED had also filed its prosecution complaints (chargesheets) against the Group companies and its directors before the Special PMLA Court here.
A special drive was undertaken by Kolkata Zonal Office-II of the ED for taking possession of the properties of Rose Valley Group of companies, throughout West Bengal, Tripura and Odisha under PMLA which resulted in taking over possession of 412 movable properties amounting to Rs 47 crore and 426 immovable properties amounting to Rs 257 crore.