Kolkata (West Bengal [India], December 28 (ANI): The Enforcement Directorate (ED) has seized incriminating documents and approximately Rs 40 crore-worth jewels during searches at Adrija Gold Corporation in connection with the Rose Valley chit fund case.
It recovered 72 kilograms of 22-carat gold ornaments, 18 kilograms of 18-carat gold ornaments and diamonds and precious gems having a total value of Rs 40 crore approximately.
During the investigation under the provisions of Prevention of Money Laundering Act (PMLA), it was revealed that Adrija Gold Corporation obtained funds in the garb of long-term loans from Rose Valley Group Companies.
The Enforcement Directorate, Kolkata Zonal office searched three showrooms of Adrija Gold Corporation situated at Baguihati, Lake Place and Howrah on Wednesday that continued throughout the night and until Thursday afternoon.
Earlier in July, the ED attached assets worth Rs 300 crore in connection with the Rose Valley Group of companies and its chairman Gautam Kundu in the probe under the Money Laundering Act.
The investigation by the agency revealed that the Kolkata-based firm collected more than Rs 17,000 crore from the public at large throughout India by luring depositors with a false promise of high return/interest on their deposits.
Around Rs 8600 crore remain outstanding to the public by the company, said the ED officials.
The ED during the investigation had earlier identified and attached properties having a market value of around Rs 1,650 crore, including several hotels, vehicles, land and cash amounting to around Rs 350 crore.
With this attachment, the total market value of attached properties in Rose Valley Group of Company Cases has reached around Rs 1950 crore.
Kundu was arrested by the agency in 2015 and is still in judicial custody.
Further investigation in the case is still in progress.(ANI)