CBI now arrests wife of Rose Valley Grp Chairman

New Delhi: CBI has arrested Rose Valley Group Chairman Gautam Kundu’ wife Subhra Kundu as part of its investigation of the chit fund scam.

The arrest has been made in Kolkata and Subhra will be taken to Bhubaneswar after the Economic Offences division of CBI gets transit remand from a local court. The case was registered in Bhubaneswar. She was on the run and was wanted by both CBI and ED in relation with this multi-crore chit fund case. 

Sources in CBI also said that the magnitude of the money involved in the scam could rise to Rs 12,000 crore which was allegedly collected by the Rose Valley Group from thousands of gullible people. Subhra was owning and running a jewelery chain-Adrija.

Gautam is under arrest since March 2015. He was arrested by the ED after a complaint was filed by market regulator SEBI against the company.