The Enforcement Directorate (ED) Kolkata Zonal Office, working alongside the Asset Disposal Committee (ADC) has disbursed ₹127.69 crore to around 1.73 lakh investors affected by the Rose Valley chit fund scam, marking a significant step in the ongoing process of returning funds to victims of one of eastern India’s largest financial frauds.

Officials said the distribution was carried out following due verification of claims submitted by investors who had deposited money in schemes run by the Rose Valley Group. The agency, which has been overseeing the recovery and restitution process, facilitated the transfer of funds after liquidating assets linked to the scam.

The Rose Valley scam, which came to light over a decade ago, involved the collection of large sums of money from investors—primarily in West Bengal, Odisha, and Assam—under the promise of high returns. The group allegedly defaulted on repayments, leaving lakhs of small investors financially distressed and prompting multiple investigations by central agencies.

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Authorities have attached several properties belonging to the group over the years, including hotels, land parcels, and other assets, as part of efforts to recover investor money. The latest disbursement is part of a phased process, and officials indicated that further payouts could follow as more assets are monetised and additional claims are processed.

Investigators said ensuring transparency and fairness in the distribution process remains a priority, with mechanisms put in place to verify the authenticity of claims and prevent duplication or fraud. Beneficiaries have received funds directly into their bank accounts, reducing delays and intermediaries.

The development has offered partial relief to affected investors, many of whom had been waiting years to recover their savings. However, officials acknowledged that a significant portion of the total funds mobilised in the scam is yet to be recovered, and efforts are ongoing to trace remaining assets and bring those responsible to justice.

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