The Enforcement Directorate (ED) on Wednesday launched search operations across three jewellery showrooms of Adrija Gold Corporation which had allegedly obtained long term loans from various Rose Valley Group firms owned by chit fund scam-accused Gautam Kundu.
“We have commenced raid operations at the Adrija Gold Corporation’s three showrooms at Howrah, Baguihati and Lake Place in the city,” an ED official said.
The agency has been probing the diversion of funds from the Rose Valley Group’s deposit taking companies.
According to the official, the agency focused on the jewellery company as it appeared to be one of the channels through which funds were routed from Rose Valley group’s main firms.
In 2016, in the Rose Valley chit fund scam case, the Enforcement Directorate attached assets of the company including eight hotels and 12 high-end cars with a value of Rs 1,250 crore.
Thousands of people were allegedly cheated in West Bengal, Odisha and in some northeastern states in the chit fund scam.
Under the provisions of the Prevention of Money Laundering Act (PMLA), the agency had registered an FIR against the company and its Chairman Gautam Kundu in 2014.
Kundu was arrested by the agency in 2015.