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CBI arrests Rose Valley Group chief Gautam Kundu’s wife

She is arrested in connection with the multicrore ponzi scam

The Central Bureau of Investigation (CBI) arrested Subhra Kundu, wife of Rose Valley Group promoter Gautam Kundu on Friday in connection with the multicrore ponzi scam. She will be taken to Bhubaneswar tomorrow, according to CBI sources.

The Rose Valley Group, masterminded by their Chairman Gautam Kundu, allegedly collected deposits from common people over Rs 1,7500 crores illegally under the false promise of exorbitant return on maturity without complying with the guidelines of Reserve Bank of India (RBI) and Security Exchange Board of India (SEBI). The chit fund scam has been probed by CBI as well as the Enforcement Directorate (ED) under Prevention of Money Laundering Act, 2002 (PMLA).

Gautam Kundu was arrested by ED in 2015 and is still in judicial custody.

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