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CBI Arrests Film Company Director In Rose Valley Scam

24 January 2019


Bhubaneswar: The CBI has on Thursday arrested a Director of private films company in an on-going investigation of a chit fund case (registered against a Group of Ponzi Company).

The accused Srikant Mohta is the director of Venkatesh Films which was allegedly involved with the scam-tainted Rose Valley Group, the CBI said.

Investigation revealed that the Mohta allegedly misappropriated Rs 24 crore in the name of producing films and siphoned off money illegally collected by the Rose Valley Group from the residents of West Bengal, Assam and Odisha.

It was further alleged that he invested part of funds in procurement of paintings through a private films company and he also foisted other accused persons in ponzi scheme cases to make similar purchases.

The private Group of chit fund company had collected Rs 15,000 crore from public. The accused will be produced before the Court of Special CJM (CBI), Bhubaneswar on Friday.