The Enforcement Directorate (ED) on Tuesday removed one of its investigating officers probing the Rs 17,000 crore Rose Valley chit fund scam, after he was spotted with Subhra Kundu, the wife of Rose Valley CEO, Gautam Kundu. They were seen in two separate CCTV footages, the first at the Kolkata airport and the second one at a New Delhi hotel.
The officer, Manoj Kumar is an assistant director with ED, the investigation arm of the Union ministry of finance. The CCTV footages where he was spotted with Subhra, were accessed by Kolkata Police sleuths from a computer at the Rose Valley office at Mangoe Lane in central Kolkata in December last year.
“In the computer, we recovered two files namely Rose Valley and Madam Rose Valley, from where we were able to track the CCTV footages,” said a Kolkata Police official.
Meanwhile, ED sources confirmed that since the name of an investigating officer has come up with the scandal, the agency thought it wise to remove Kumar from the probe process for the time being.
According to sources, Kumar claimed innocence and said that he was victimised because of personal vendetta.
Meanwhile, the Serious Fraud Investigation Office (SFIO), the investigation arm of the Union ministry of corporate affairs, too, filed a case against Rose Valley at a lower court, slapping a forgery charge to the tune of Rs 1.18 crore.
In the case filed, SFIO claimed that Rose Valley was illegally accumulating public deposits from 2010 to 2014 without the permission of the Securities & Exchange Board of India (SEBI).
HT reported on January 3, 2017, that SFIO was re-entering the chit fund scam in West Bengal and this time the agency’s area of investigation will not only be the old sharks such as Saradha, Rose Valley and Icore, but also the 194 new entrants in the Ponzi circle of the state as identified by Reserve Bank of India (RBI).
The SFIO accessed important documents that revealed that two Trinamool Congress MPs arrested by the CBI in connection with the Rose Valley scam attempted to bail out Rose Valley after the Insurance Regulatory Authority of India (IRDA) cancelled its corporate agency license with Life Insurance Corporation of India (LIC) in March 2012.