Rose Valley scam: EOW takes group chief on 4-day remand

Balasore: The Balasore chit fund court today allowed the Economic Offences Wing (EOW) of the Crime Branch, Odisha to take Rose Valley Group chief Gautam Kundu on a four-day remand.

Though the EOW had appealed for a five-day remand of Kundu, the court granted four days. The investigating agency had produced Kundu before the court earlier in the day as his five-day remand period came to an end.

Kundu was arrested by the Enforcement Directorate (ED) in March, 2015 under the criminal charges and provisions of the Prevention of Money Laundering Act.

It may be mentioned that the Rose Valley chit fund company has duped thousands of people in West Bengal and Odisha on the pretext of higher return on their investments.