Rose Valley scam: CBI team in Nuapada

Nuapada: A two-member team of Central Bureau of Investigation (CBI) reached here today and started investigations into the alleged fraudulent collection of deposits by the Rose Valley group of companies, a chit find company.

According to reports, after arriving here, the team first went to the local police station and held discussions with police officials and examined various documents seized during the raids.

The company is alleged to have collected around Rs 15 lakh from the gullible investors of this area.

The scam involving the Rose Valley group is said to be the biggest chit fund fraud in the country. The company has duped lakhs of depositors of thousands of crores of rupees across the nation, mainly West Bengal, Assam, Tripura, Jharkhand and Maharashtra, apart from Odisha.