AGARTALA, Sept 14 (TIWN): On a recent report, CBI has announced that Rose Valley has looted more than 10 thousand crores of money from various states of India. In total more than 1 lakh of investors had been cheated.However, the exact amount right now CBI could not unearth as the amount is huge, but its surely 4 times more scam than Sarada, informed CBI.According to CBI, Rose Valley MD Shibomoy Duttal initiated 2 schemes which were his own creations: these are Ashirbaad & Holiday Membership, which promised to return money with big amount of interest by banks.The group's chairman Gautam Kundu is already behind bars arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act for mobilising public money without proper sanction of the Securities and Exchange Board of India."The directors - Shibamoy Dutta and Ashok Kumar Saha - were arrested from the city. They allegedly had long association with the group and were active in conspiring with Gautam Kundu, in cheating and misappropriation of funds," said a CBI officer.Director Shibomoy Dutta was also invoved in another chit fund group before he started Rose Valley. Allegely he was the mastermind who had released one after one new schemes to cheat the people and grab their moneys.Rose Valley has in total 8 divisional offices, 21 regional offices, 880 branches, 20 lakhs of registered agents. Rose Valley also has 23 hotels and 3 entertainment parks.

Presently Shibomoy Dutta is in transit custody and till 17^th september he will be kept in transit custody.

The next place where he will be taken is Bhubaneswar, where against him case had been filed.

CBI also said that in Kolkata Shibomoy Dutta looked after the matter, whereas at Tripura Ashok Saha were taking care of the whole matter.