\n
Somnath Chakraborty, a 57-year-old worker at a private company in Kolkata, was drawn in by the lure of earning over 12 percent annually. Back in 2010, he decided to invest almost 2 lakh rupees in a chit fund offered by the Rose Valley Group. He wasn’t alone; around three million other small investors also entrusted their hard-earned money to the scheme. However, things took a turn when the Central Bureau of Investigation (CBI) began looking into the scheme and labeled it as fraudulent in 2015. The situation worsened when the Directorate of Enforcement (ED), the agency in charge of tackling money laundering and terrorist financing, became involved in the investigation.
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Somnath Chakraborty, a 57-year-old worker at a private company in Kolkata, was drawn in by the lure of earning over 12 percent annually. Back in 2010, he decided to invest almost 2 lakh rupees in a chit fund offered by the Rose Valley Group. He wasn’t alone; around three million other small investors also entrusted<\/p>\n","protected":false},"author":1,"featured_media":8615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[28],"tags":[9632,9637,9638,9631,9634,9624,783,9623,9626,9636,9629,9627,9628,9633,9635,9625,9630],"class_list":["post-8614","post","type-post","status-publish","format-standard","has-post-thumbnail","category-india-news","tag-banking-fraud","tag-chit-fund-fraud","tag-corporate-fraud-india","tag-ed-asset-seizure","tag-ed-financial-investigation","tag-ed-restitution","tag-enforcement-directorate","tag-enforcement-directorate-restitution","tag-financial-fraud-recovery","tag-financial-scam-victims","tag-mehul-choksi-scam","tag-money-laundering","tag-nirav-modi-case","tag-ponzi-scheme-compensation","tag-prevention-of-money-laundering-act","tag-rose-valley-scam","tag-vijay-mallya-recovery"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/8614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=8614"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/8614\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/8615"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=8614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=8614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=8614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}