File Photo: Rose Valley Group chairman Gautam Kundu. (Press Trust of India)
Arrested Rose Valley group chairman Gautam Kundu was among the six people named in the charge sheet filed by the Enforcement Directorate in the Rose Valley ponzi scam on Thursday.
The chargesheet was filed before the city sessions court, under the provisions of the Prevention of Money Laundering Act in pursuance of the a complaint from the Securities and Exchange Board of the India to the Enforcement Directorate.
Arrested March 25 by the ED under the Prevention of Money Laundering Act for mobilising public money without proper sanction of the SEBI, Kundu was sent to 10 days judicial custody on Tuesday.
The corporate affairs ministry in 2013 had named Rose Valley as one of the 73 companies involved in ponzi schemes in West Bengal.
Having cast its net across the states of Bengal, Tripura, Assam, Odisha, Jharkhand and Maharashtra among others, the company is alleged to have raised close to Rs.15,000 crore.
Found the company guilty of running "collective investment scheme" without necessary approvals, the SEBI in June 2014 had ordered it to refund the money to the investors and barred it barred from accessing the securities market.