Rose Valley financial scandal

Rose Valley Group
Founded1997
FounderKajal Kundu
Years active1997–2015
TerritoryIndia (West Bengal, Odisha, Assam, Tripura, Jharkhand, and others)
EthnicityIndian
LeaderGautam Kundu (Chairman)
Criminal activitiesPonzi scheme, financial fraud, money laundering

The Rose Valley financial scandal, also referred to as the Rose Valley chit fund scam, is a substantial financial fraud case and alleged political scandal that took place in Northeastern India. The scam, exposed in April 2013 after the raids from the Enforcement Directorate, centers around the Tripura-based Rose Valley Group, a conglomerate accused of operating unauthorized collective investment schemes and Ponzi schemes, extracting over ₹15,000 crore from millions of depositors predominantly across eastern India.

This article is issued from Wikipedia. The text is available under Creative Commons Attribution-Share Alike 4.0 unless otherwise noted. Additional terms may apply for the media files.