The Central Bureau of Investigation (CBI) on Wednesday conducted searches (raids) at 43 locations across the country against the money collection company, Rose Valley Group.

Raids that were carried out in connection with the alleged chit fund scam; included the house of Trinamool Congress MP Tapas Paul. Paul is said to be a past director of the Rose Valley Group, sources said.

Kolkata-based Rose Valley, is alleged to have raised over a few thousand crore from small depositors through various dubious schemes. Its name also features in the list prepared by the Corporate Ministry as one of the many deposit-taking firms operating in the country.

According to a CBI spokesperson “searches were carried out at 27 locations of the company in West Bengal; seven places in Tripura and one each in Odisha, Assam, Delhi, Uttar Pradesh, Maharashtra, Bihar, Jharkhand, Chattisgarh and Tamil Nadu”.

Apart from Paul’s flats here in the southern part of the city, the residence of Rose Valley chairman Gautam Kundu and managing director Shibomoy Datta were also searched.

Residential premises of the company's directors including Abir Kundu, Ramlal Goswami and Ashok Saha were also searched, the spokesperson said.

Apart from CBI, the Enforcement Directorate (ED) has also been carrying out a probe against the company for quite some time. It has frozen over 2,600-odd bank accounts of the Group.

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