Rajeev Kumar, a 1989-batch IPS officer, has been absconding for the last three days and did not even attend meetings of the Election Commission. He is known to be close to West Bengal Chief Minister Mamata Banerjee.
Kumar was heading an SIT related to the chit fund scams in Bengal
However, progress in the matter was very slow
Kumar has been absconding for the last three days
Rajeev Kumar, a 1989-batch IPS officer and Kolkata Police Commissioner Rajeev Kumar who is close to West Bengal Chief Minister Mamata Banerjee, will likely be arrested by the Central Bureau of information (CBI) in connection with chit fund scams in West Bengal
The officer was heading a probe related to both the Saradha and Rose valley scams and the CBI wants documents related to the probe by him.
The officer was heading an SIT related to the chit fund scams in the state but progress in the matter was very slow.
The officer has been absconding for the last three days and did not even attend meetings of the Election Commission.
The CBI had earlier arrested Bengali film producer Shrikant Mohta for his involvement in the Rose Valley chit fund scam.
Mohta had allegedly misappropriated Rs 24 crore in the name of producing films.
CBI officers had earlier reached Bengali film producer Shrikant Mohta’s office in a South Kolkata mall and began interrogating Mohta in connection with the scam.
According to sources, Mohta had failed to appear before the central agency despite repeated notices.
WHAT IS THE ROSE VALLEY MONEY LAUNDERING CASE?
Rose Valley was a small, Tripura-based firm that was started by businessman Kajal Kundu in 1997. It had some business stake in West Bengal.
In 2003, Kajal Kundu and his family died in a mysterious accident on their way from Agartala to Guwahati. After his death, his brother Gautam Kundu took over the firm.
Kajal Kundu’s initial business was about selling insurance, until he got into the rose plantation sector in 1997 under the name Rose Resorts and Plantations.
In around 1999, he had applied to Securities and Exchange Board of India (Sebi) for an approval, but was denied a licence. Finally, in 2003 — the year he died — the company got the approval.
Once brother Gautam Kundu came to power, the company was reinvented, and expanded to West Bengal, Odisha and the Northeast.
Kundu soon started schemes of soliciting investors to deposit money promising higher interest rates. What many investors did not quite understand, however, was the details of the schemes floated by the company.
Over 2011 and 2013, Sebi barred various branches of the Rose Valley Group from raising money.
Rose Valley Group chairman Gautam Kundu was arrested in Kolkata in 2015 after multiple charges of money laundering was made against his company.
Investigations later revealed that the Rose Valley Group had collected more than Rs 17,000 crore from the public across India by luring depositors with false promises of very high returns/interest on their deposits.
Shrikant Mohta has produced a number of award-winning Bengali films including Chokher Bali, Raincoat, Autograph and Iti Mrinalini among others.
Shrikant Mohta is known for his proximity to the Trinamool Congress (TMC) leadership and party chief Mamata Banerjee.