In connection with the ongoing investigation in the multi-crore chit fund scam Central Bureau of Investigation (CBI) on Wednesday conducted searches at 43 locations of the Rose Valley Group including the residence of Trinamool Congress MP Tapas Paul.
Mr. Paul, an MP from Krishnanagar in Nadia district is director of one of the company of the Rose Valley Group, which is under the scanner of both the CBI and the Enforcement Directorate. Searches were also conducted at the residence of Rose Valley Group chairperson Gautam Kundu and other directors of the company.
"In an ongoing investigation, searches are being conducted at 43 locations across the country including 27 in West Bengal, 7 in Tripura and 1 location each in Odisha, Assam, Delhi, Uttar Pradesh, Maharashtra, Bihar, Jharkhand, Chhattisgarh and Tamil Nadu,"a CBI official said.
The CBI's raid at the TMC MP's residence comes as another embarrassment to the ruling party, which is already facing the heat of the chit fund scam. Several leaders of the ruling party has been arrested in connection with Saradha scam including State’s Sports and Transport Minister Madan Mitra who is still behind bars.
In November 2014, the ED had attached 2,631 accounts of the Rose Valley Group involving Rs. 295 crore, under Section 5 of the Prevention of Money Laundering Act.
While the Saradha group is believed to have raised investment of about Rs. 2,459 crore the Rose Valley group has raised deposits over Rs.10,281 crore from depositors. The figures were provided by Minister of State for Finance Jayant Sinha, in a written reply to the Rajya Sabha recently.
