Home CRIME Odisha chit fund scam: Two-man CBI team in Nuapada

Odisha chit fund scam: Two-man CBI team in Nuapada

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Odisha Sun Times Bureau
Nuapada, Jul 11:

A two-member CBI team arrived here to investigate the alleged fraudulent collection of deposits by the Rose Valley Corporation, one of the 44 companies being probed in the great Odisha chit fund scam.

file pic
file pic

At the time of filing this report, the team was at the Nuapada police station interrogating some police officers who had raided the offices of the company and had seized documents following complaints against the Kolkata headquartered company of defrauding depositors of the money in 2013-14. The team is also examining documents seized during the raids, sources said.

At that time, police had raided several offices of the company and had seized documents and sealed its offices. Police sources said there were allegations that the company had duped depositors of around Rs 15 lakh in Nuapada area. The CBI team is learnt to be seeking information on the case from the investigating officer.

With its presence across West Bengal, Tripura, Assam, Odisha, Jharkhand, Maharashtra and other states, the company is alleged to have raised close to Rs.15,000 crore.

The firm came into the limelight following the Saradha scam, which broke in early 2013. The corporate affairs ministry had named Rose Valley as one of the 73 companies involved in Ponzi schemes in West Bengal the same year.