CBI arrests wife of Rose Valley group chief in chit fund case

The Central Bureau ofInvestigation on Friday arrested Subhra Kundu, wife of RoseValley Group chairman Gautam Kundu, from the city inconnection with the probe into the multi-crore chit fund scam,sources in the investigating agency said.

Sleuths of the Economic Offences Wing of CBIapprehended Kundu for her alleged role in the ponzi scam, theysaid.

She had been wanted by the CBI and anotherinvestigating agency - Enforcement Directorate (ED)- inconnection with the case.

The group has allegedly cheated thousands ofdepositors, promising high returns on investments in itsillegal schemes.

According to CBI sources, the amount of money garneredby Rose Valley through such schemes could be more than Rs12,000 crore.

Gautam Kundu has also been in jail since March 2015.

His wife was also running a jewellery chain - Adrija -which has been sealed since the investigation started.

Rose Valley had also made substantial investments inhotels and resorts across the country, they said.