Rose Valley Chit Fund Scam: Absconding Regional Manager Arrested From WB

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Bhubaneswar: The Economic Offences Wing (EOW) of Odisha Crime Branch has arrested Bikramjit Bhowmik, Regional Manager of the Rose Valley Group of companies of Odisha region, from West Bengal.

Accused Bikramjit Bhowmik was absconded since registration of the case in May, 2013, evading police arrest.

He was arrested from Midnapur on Monday and has been produced before the Balasore OPID court after being brought to the State on a transit remand.

On May 28, 2013, the EOW took charge of the investigation by registering a case. During investigation, it was revealed that the company had collected crores of rupees from several investors of Odisha with false promise of high rate of interest.

Investigation revealed that Rose Valley Group of companies are registered with ROC, Kolkata. Initially, the company collected public deposits for its construction company. But since 2010, the company collected the deposits against different money…

Read full article at pragativadi.com