Rose Valley scam much bigger than Saradha?

  |   13 November, 2014   |   870   |   3980

While public attention was much more in Saradha as it turned out to be a high profile one, Rose Valley scam is probably six times bigger with a collection of  deposits worth about Rs15,000 crore



The mobilisation of money from the market is much more in Rose Valley than in the Saradha ponzi companies, according to Enforcement Directorate (ED), which is probing the money laundering aspects of both the firms.



"The Rose Valley scam is of much bigger magnitude than the Saradha. It is probably six times bigger as Rose Valley had collected deposits of around Rs15,000 crore from the public", a source from ED told PTI.