Exclusive: Shocking Revelations in Rose Valley Ponzi Scheme Scandal! Find Out How You Can Get Your Money Back Now

The Enforcement Directorate (ED) is actively investigating the Rose Valley Ponzi scheme and advising affected investors to seek assistance from the asset disposal committee appointed by the Calcutta High Court. This committee, established in 2015 at the court’s recommendation, aims to help victims recover their investments. The ED has seized properties worth Rs 4,600 crore related to the scam, including Rs 2,300 crore in assets seized in a single operation, including two dozen hotels and resorts. These assets will be auctioned, and the proceeds will be used to compensate defrauded investors.

Legal action against Rose Valley and its Chairman Gautam Kundu began in 2014 under the Prevention of Money Laundering Act (PMLA), resulting in Kundu’s arrest in 2015. The ED has filed multiple charge sheets in courts in Kolkata and Bhubaneswar as part of its ongoing investigation. Allegations suggest that the Rose Valley group operated 27 companies for its chit fund operations, with only six of them remaining active, highlighting the extensive scope of the fraudulent activities.

The recent arrest of two Trinamool Congress MPs by the Central Bureau of Investigation (CBI) in Kolkata in connection with the Rose Valley case has once again brought focus to the Ponzi scams that affected West Bengal during 2013-2014. Ponzi schemes like Rose Valley lure investors with promises of high returns but inevitably collapse due to their unsustainable nature. The Rose Valley Group attracted investments through its Holiday Membership Plan, offering high returns or holiday packages.

The scams involved various fraudulent practices, including offering high-interest rates, delaying refunds, and violating regulatory norms set by SEBI and RBI. Legal action has been taken against Rose Valley under various laws, including the Prize Chits & Money Circulation Schemes (Banning) Act, 1978. The arrests of the Trinamool Congress MPs underscore the ongoing efforts to bring those involved in the Ponzi schemes to justice and emphasize the adverse impact of such fraudulent activities on investors and the financial system.