The arrest of managing directors of ponzi firm Rose Valley , Shibomoy Datta and Ashok Saha by the Central Bureau of Investigation (CBI) has blown the lid Rs 10,000-crore scam with the two of ` confessing that there are 23 hotels and three amusement parks across India worth several crores owned by the Rose valley group.
Datta and Saha are presently in transit remand and are likely to be produced before an Odisha court on September 17. Initial questioning of the two also revealed that the scam is four times bigger than Saradha scam spread across West Bengal, Odisha and Assam. The group was running two major schemes using which they lured investors and then duped them, said officials.
The first scheme was `Ashirwad' where they took money and promised to give a plot of land. The second most popular ond most popular scheme was `holi day membership plan' where the gullible investors are lured by offer ing a holiday plan and then asked to invest in their schemes.
The company is learnt to have opened as many as 21 regional offices 21 regional offices with 880 branches in a short span of 8 years. The group had more than 2.7 lakh active agents and 20 lakh enlisted agents. “Most of these agents were also the victims and have filed a complaint with the police,“ added an official. Datta also said that he joined Rose valley few years back as a manager but was elevated to the position of managing director by Gautam Kundu, chairman and managing director of the firm. Datta, according to sources earlier worked as LIC agent but later joined Pearless group only to later quit and join Rose Valley . He was handling the operation of Rose Valley from Kolkata after the arrest of Kundu by Enforcement Directorate (ED). Saha, a resident of Agartala in Tripura was incharge of operations in Tripura, CBI said.
These days, real estate developers in Mumbai are working many residential as well as commercial projects and now they are also trying to capture the un-taped segments such as; old age housing and bachelors housing and due to that they are also constructing the old age homes for old people and 1 BHK flats in Thane for bachelors, so they bachelors can buy them.
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