Rose Valley chief's remand extended by four days

A special court in Balasore in Odisha on Wednesday extended the remand of Rose Valley Group chief Gautam Kundu by four days for further interrogation in connection with a chit fund scam.

Earlier on Wednesday, the Economic Offences Wing (EOW) of the Crime Branch produced Kundu before the court after the completion of his four-day remand and sought permission to take him on a fresh remand for five more days for further interrogation.

The investigating agency sources said they have extracted crucial information on the money trail of the chit fund company and the list of the investors during Kundu's remand period.

"EOW is making efforts to get the detailed list of duped investors and properties of Rose Valley group in Odisha," said Crime Branch Special Director General Bijay Kumar Sharma.

Kundu was arrested by the Enforcement Directorate (ED) in March 2015.

The chit fund company is accused of defrauding depositors of Rs 17,000 crore in West Bengal and Odisha.

The Central Bureau of Investigation has arrested two Trinamool Congress MPs Tapas Pal and Sudip Bandyopadhyay for their involvement with the Rose Valley group.

--IANS

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