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The Central Bureau of Investigation (CBI) on Thursday arrested Shrikant Mohta, a well-known producer of popular Bengali films, in connection with the Rose Valley chit fund scam.
Sources said that the ongoing CBI investigation into Rose Valley revealed that the accused allegedly misappropriated around Rs 24 crore in the name of producing films and syphoned off this money, which was illegally collected by Rose Valley's ponzi schemes from the residents of West Bengal, Assam, Odisha and other states.
The investigating agency has further alleged that Mohta invested part of the funds in the procurement of paintings through a private
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