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ED Rose valley Fraud

Rose Valley Fraud: 70 crores assets attached by ED

ED has attached assets of more than Rs. 70 crore, including a company that owns the IPL cricket team of actor Shah Rukh Khan, in connection with his investigation of money laundering in the Rose Valley Fraud

On February 3, 2020, the Implementation Directorate (ED) said it included three entities: Multi Resorts Pvt Ltd, St Xavier’s Kolkata College and Knight Riders Sports Pvt Ltd, in connection with an investigation into money laundering fraud and the Rose Ponzi Valley Rose. The agency said, in a statement, that “movable and immovable property belonging to many entities and individuals who have received funds from the Rose Valley Group and related entities, with a book value of Rs. 70.11 crores, has been attached temporarily under the provisions of the Money Laundering Prevention Act (PMLA)

Bank accounts of the three entities that were attached with deposits totaling 16.20 crore, with 11.87 million rupees in the Knight Riders Sports Pvt Ltd. account.

Knight Riders Sports Pvt Ltd. owns Riders (KKR) “IPL Cricket Team and its directors are the wife of Shah Rukh Khan, Gori Khan, husband of actor Juhi Chawla, Jay Mehta, KKR CEO, Venkatesh Mysore, and two others. He said that agency has also occupied 24 Acres of land in Ramnagar and Maheshdal in Purpa Medinibur district in West Bengal, it is an apartment in Delcap Chambers in Mumbai, acres of land in Jyoti Basu Nagar and the Rose Valley Group Hotel in Calcutta.

ED scored a FIR record against Rose Valley Group and its Chairman Gautam Kundu and others under PMLA in 2014. Kundu was arrested by the agency in Calcutta in 2015 and is currently in judicial custody. Ed E. has filed multiple shipments papers in the Kolkata and Bhubaneswar courts in this regard, and the total number of attachments in this case is now Rs 4,750 crore.

Picture Source : Republic World

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