Restitution of funds: Over 7,000 duped Rose Valley investors get Rs 10,200 each

According to ED, the move to return the funds to the duped investors and victims of frauds like Ponzi, chit fund and fake investment schemes came about after a special Prevention of Money Laundering Act (PMLA) court in Kolkata ordered for the same in August, enabling the release of Rs 19.40 crore to the ADC, marking the beginning of a systematic repayment plan.

“A total of 28.10 lakh claims have been registered, out of which 31,352 claims have been processed and 7,346 depositors have now received the money,” the spokesperson said.

The ED said an event was held to return the funds to the investors where ADC Chairperson Justice Dilip Kr Seth (Retd.) praised the continued cooperation between the ADC and the ED, underscoring the ED’s critical role in identifying the properties of the Rose Valley Group.

“This collaboration has been instrumental in overcoming legal challenges…convincing the court of the merits of the claimants’ case, ultimatel paving the way for successful efforts for restitution,” the spokesperson said.