The Enforcement Directorate (ED) on Thursday attached assets worth Rs 1,250 crore, including six hotels, in its money laundering probe in the Rose Valley case.
This came months after the agency filed charge sheet under the provisions of the Prevention of Money Laundering Act (PMLA) before a sessions court against the Chairman of the Rose Valley group of companies Gautam Kundu and others.
Kundu was arrested last year by the agency under the anti-money laundering laws in Kolkata and is currently in judicial custody.
A charge-sheet had earlier been filed by the ED before a special court in Kolkata pertaining to the groups’ alleged ponzi operations in West Bengal.
The group had allegedly floated a total of 27 companies for running the alleged chit fund operations out of which only half-a-dozen were active.
The company allegedly promised astronomical returns to depositors on land properties and assets and bookings done in the real estate sector.
It is alleged that the company had made various investments in its sister firms to suppress its liabilities towards investors.
SEBI had probed the company before ED and CBI registered cases against the group.
The ED has pegged the total volume of the alleged irregularities at Rs 15,000 crore.