City Limouzine Investment finance fraud

 'दहशतवादाला धर्म नसतो पण...': मालेगाव बॉम्बस्फोट प्रकरणात साध्वी प्रज्ञासिंह आणि इतर ६ जणांना निर्दोष सोडताना न्यायालयाने काय म्हटले?

स्फोटातील सहाही बळींच्या कुटुंबियांना प्रत्येकी २ लाख रुपये आणि जखमींना ५०,००० रुपये भरपाई म्हणून देण्यात येतील, असे न्यायालयाने म्हटले आहे.

२९ सप्टेंबर २००८ रोजी मालेगावमधील भिक्कू चौकाजवळ झालेल्या स्फोटात सहा जणांचा मृत्यू झाला आणि शंभराहून अधिक जण जखमी झाले.

मुंबईतील विशेष राष्ट्रीय तपास संस्थेच्या (एनआयए) न्यायालयाने गुरुवारी २००८ च्या मालेगाव बॉम्बस्फोट प्रकरणातून २०१९ मध्ये भोपाळमधून भाजप खासदार झालेल्या प्रज्ञा सिंह ठाकूर आणि लेफ्टनंट कर्नल प्रसाद पुरोहित यांच्यासह सात आरोपींना निर्दोष मुक्त केले.

२९ सप्टेंबर २००८ रोजी नाशिकमधील मालेगाव शहरातील एका मशिदीजवळ मोटारसायकलला बांधलेल्या स्फोटकाचा स्फोट झाल्याने सहा जण ठार झाले आणि अनेक जण जखमी झाले.

'स्फोटातील सहाही बळींच्या कुटुंबियांना प्रत्येकी २ लाख रुपये आणि जखमी झालेल्यांना ५०,००० रुपये भरपाई म्हणून देण्यात येतील,' असे न्यायालयाने म्हटले आहे.

२०१८ मध्ये खटला सुरू झाल्यानंतर १९ एप्रिल २०२५ रोजी या प्रकरणाचा निकाल राखून ठेवण्यात आला होता.

• दहशतवादाला कोणताही धर्म नसतो कारण कोणताही धर्म हिंसाचाराचे समर्थन करू शकत नाही. न्यायालय केवळ धारणा आणि नैतिक पुराव्याच्या आधारे कोणालाही दोषी ठरवू शकत नाही; त्यासाठी ठोस पुरावे असले पाहिजेत.

• दुचाकीवर बॉम्ब ठेवल्याचा कोणताही पुरावा नाही. श्रीकांत प्रसाद पुरोहित यांच्या निवासस्थानी स्फोटके साठवल्याचा किंवा एकत्र केल्याचा कोणताही पुरावा नाही.

• मोटारसायकलचा चेसिस नंबर पुसून टाकण्यात आला होता आणि इंजिन नंबर संशयास्पद आहे. साध्वी (प्रज्ञा ठाकूर) ही गाडी मालक असल्याचे सिद्ध करणारा कोणताही पुरावा नाही आणि तिच्याकडे गाडी होती हे सिद्ध करणारा कोणताही पुरावा नाही. स्फोटापूर्वी ती गाडी साध्वी प्रज्ञा यांच्या ताब्यात होती हे सरकारी वकिलांना सिद्ध करता आले नाही.

• श्रीकांत प्रसाद पुरोहित यांच्या निवासस्थानी स्फोटके साठवल्याचा किंवा एकत्र केल्याचा कोणताही पुरावा नाही.. पंचनामा करताना तपास अधिकाऱ्यांनी घटनास्थळाचे कोणतेही रेखाचित्र तयार केले नाही. घटनास्थळाचे फिंगरप्रिंट, डंप डेटा किंवा इतर काहीही गोळा केले गेले नाही. नमुने दूषित होते, त्यामुळे अहवाल निर्णायक असू शकत नाहीत आणि ते विश्वसनीय नाहीत.

• नियमांनुसार मंजुरी घेण्यात आली नसल्याने या प्रकरणात UAPA लागू केला जाणार नाही. या प्रकरणात UAPA चे दोन्ही मंजुरी आदेश सदोष आहेत.

• अभिनव भारत संघटनेचा वापर अभियोग पक्षाने सामान्य संदर्भ म्हणून केला. दहशतवादी कारवायांसाठी अभिनव भारतचा वापर झाल्याचा कोणताही पुरावा नाही. ठोस साक्षीदारांनी अभियोग खटल्याला पाठिंबा दिलेला नाही. (षड्यंत्र रचण्यासाठी) बैठका झाल्या हे सिद्ध करण्यात अभियोक्ता पक्षाला अपयश आले आहे.

स्फोटात सहा जणांचा मृत्यू झाल्याचा सरकारी वकिलांचा युक्तिवाद न्यायालयाने मान्य केला, परंतु १०१ जण जखमी झाल्याचे सरकारी वकिलांचे म्हणणे मान्य करण्यास नकार दिला. न्यायालयात सादर केलेल्या वैद्यकीय प्रमाणपत्रांपैकी काही जणांमध्ये फेरफार करण्यात आल्याने केवळ ९५ जणांना झालेल्या दुखापती मान्य केल्या.

 Rose Valley Chit Fund Scam: ED disburses ₹10.5 crore more to 11,883 victims. ₹55.45 crore refunded in total as attached properties worth ₹1,563 crore are monetised for investor compensation across India.

In a significant development for thousands of defrauded investors, the Enforcement Directorate (ED) has disbursed an additional ₹10.5 crore to 11,883 depositors who fell prey to the infamous Rose Valley chit fund scam. With this round, the total amount returned to victims has reached ₹55.45 crore — a major step in restoring public trust and delivering justice.

Introduction to the Rose Valley Chit Fund Scam

The Rose Valley scam is one of India’s largest Ponzi schemes, involving thousands of crores collected from unsuspecting investors across multiple states. While the scam shook the financial backbone of many households, relentless legal and enforcement efforts are now slowly yielding compensation.

What Was the Rose Valley Scam All About?

The Modus Operandi of the Scam

The Rose Valley Group, under the pretense of running legitimate investment schemes, lured lakhs of investors by promising unbelievably high returns. These schemes were not registered with SEBI and operated without proper regulatory oversight.

The Scale and States Affected

With operations spread across West Bengal, Odisha, Assam, and even parts of Bihar and Northeast India, the scam defrauded lakhs of individuals, many of whom were small-time investors, farmers, and retirees.

Role of the Enforcement Directorate (ED)

How ED Stepped In

After multiple complaints and investigation triggers from state agencies and SEBI, the ED launched an extensive probe under the Prevention of Money Laundering Act (PMLA).

Investigations and Asset Attachment

Through painstaking investigation, the ED tracked and attached both movable and immovable properties of the Rose Valley Group, ensuring the assets would eventually benefit the victims.

Asset Disposal and Victim Compensation

Formation of the Asset Disposal Committee (ADC)

To speed up compensation, the Asset Disposal Committee (ADC) was formed, working closely with ED to identify, value, and monetise assets.

Latest Disbursement: ₹10.5 Crore to 11,883 Victims

The ED announced on Wednesday that ₹10.5 crore was disbursed in the latest round to nearly 12,000 affected investors.

Total Disbursal Reaches ₹55.45 Crore

So far, 72,760 claims have been processed, with ₹55.45 crore already returned — a milestone in the scam recovery efforts.

Breakdown of Assets Recovered by ED

Movable Assets Worth ₹494 Crore

From vehicles to bank balances and shares, the ED has successfully attached movable properties worth ₹494 crore.

Immovable Assets Valued at ₹1,069 Crore

Properties including plots, buildings, and other real estate holdings were attached, valued at ₹1,069 crore — pushing the total recovered value past ₹1,563 crore.

States That Benefited from Disbursement

West Bengal

As the epicentre of the scam, West Bengal has seen the highest number of affected investors and disbursals.

Odisha

A large number of victims from Odisha have also started receiving their due compensation.

Assam and Other States

Victims from Assam, Bihar, and other Northeastern states are also part of the restitution process being handled by ADC and ED.

How Victim Claims Are Processed

Survey and Valuation

ED assists in conducting surveys and valuation of the attached properties to ensure they are auctioned or sold at fair market value.

Monetisation and Disbursal

Once monetised, the funds are disbursed to verified victims based on documentation and claims.

Challenges in the Restitution Process

Despite significant progress, challenges remain in identifying claimants, legal hurdles, disputed assets, and the sheer scale of the scam. Many properties are entangled in court cases, slowing down liquidation.

Future Outlook: What's Next for the Victims?

The ED has confirmed that more claims are being processed, and restitution efforts will intensify in the coming months. With ₹1,563 crore worth of assets in hand, victims can expect more rounds of compensation soon.

Public Response and Government Pressure

Public pressure and media attention have played a crucial role in speeding up the process. The central government is also pushing agencies to act fast and ensure victims are not left waiting indefinitely.

Conclusion

The Rose Valley chit fund scam shattered the financial dreams of thousands. However, with ED's unwavering efforts and the systematic asset monetisation by ADC, the path to justice is being paved — one disbursal at a time. The ₹55.45 crore already returned is just the beginning, and lakhs of victims still await their dues. With continued vigilance and administrative will, the hope is that all wronged investors will one day receive what they rightfully deserve.

FAQs

Q1. How do I know if I’m eligible for compensation from the Rose Valley scam?
You can check with the Asset Disposal Committee (ADC) or visit the official ED portal to see the notification and application procedures for victims.

Q2. How much money has been recovered in total?
The ED has attached properties worth ₹1,563 crore, including both movable and immovable assets.

Q3. How much money has been disbursed so far?
As of the latest round, ₹55.45 crore has been disbursed to 72,760 victims.

Q4. Will more people get compensated in the future?
Yes, more rounds of disbursement are expected as more claims are verified and more assets are monetised.

Q5. What role does ED play in the refund process?
The Enforcement Directorate is responsible for investigating, attaching assets, and facilitating their monetisation through ADC for victim compensation.

Tomy and Shiny, A&A Chits & Finance

Bengaluru Chit Fund Scam: Kerala Couple Fled With ₹40 Crore

In a shocking turn of events, a couple from Kerala, who had been running a well-known chit fund in Bengaluru, vanished after allegedly duping hundreds of people. The estimated amount siphoned off? A whopping ₹40 crore.

What Exactly Happened?

This wasn’t a fly-by-night scheme. The couple had been operating for nearly two decades and had gained the trust of their investors through timely payments and smooth communication. Until one day — everything just stopped.

The Alleged Masterminds: Who Were Tomy and Shiny?

Tomy and Shiny were known faces in the community. Friendly, well-spoken, and religious, they lived a seemingly modest life while quietly running a financial web. Their company, A&A Chits & Finance, promised great returns and had an aura of credibility. Investors considered them family. That emotional connection is what made this fraud hurt even more.

How Their Business Ran Smoothly for Years

The business was classic — monthly contributions from members, auctions, and payouts. Everything worked like clockwork. People received timely returns, some even used it as their primary investment method. The couple even gave small gifts during festivals, further deepening trust.

Timeline of the Scam

The Rise: Nearly Two Decades of Trust

They had been operating smoothly for nearly 20 years. Their ability to consistently provide good returns made them popular across neighbourhoods. Many invested their life savings without a second thought.

The Fall: Sudden Halt of Payments

Sometime earlier this year, payments became irregular. Excuses followed: bank delays, temporary cash crunches, health issues. But soon, phones were unreachable, office shutters stayed down, and panic spread.

The Escape: How They Vanished Overnight

And then came the real shock. The couple had quietly sold off their assets—homes, vehicles, jewellery—and left the country. They reportedly flew to Kenya, and since then, have remained unreachable.

Investors Left in the Lurch

Number of Victims and Total Amount Lost

It’s estimated that over 400 people were duped. The total fraud amount is around ₹40 crore, though some suspect it could be even higher as many small investors may not have come forward yet.

Stories of Pain, Loss, and Betrayal

Some victims invested their retirement funds. Others had saved for their children’s education or marriages. One woman shared that she lost ₹30 lakh—money she and her husband had built over 15 years. Another elderly man said he trusted the couple so much, he didn’t even keep written proof.

How Chit Funds Actually Work

Basics of a Chit Fund Scheme

Chit funds are essentially group saving schemes. Each member contributes a fixed amount monthly. The pooled money is given to one member via auction or lucky draw. This continues until everyone gets a turn.

Why People Still Trust Them

They seem simple, community-based, and have been around for decades. For many, chit funds feel safer than stock markets or banks. There’s a human face to them — which, unfortunately, makes them vulnerable to manipulation.

Warning Signs That Were Missed

Too-Good-To-Be-True Returns

The scheme promised nearly 15–20% annual returns — way more than any bank or even mutual funds. That should’ve raised red flags.

No Formal Registration or Records

The company wasn’t properly registered. Many investors trusted word-of-mouth or verbal promises. No receipts, no legal documents — just blind faith.

What Authorities Are Doing Now

FIRs, Investigations, and Freezing Assets

Police have started investigating. FIRs have been filed under multiple financial crime laws. The couple’s local assets are being traced and frozen.

Global Hunt and Legal Procedures

Efforts are on to coordinate with international agencies to bring the couple back from Kenya. But extradition is never simple and could take months, if not years.

Lessons for Common Investors

Always Verify Before You Trust

Whether it’s a friend, a neighbour, or a relative running a financial scheme — check their registration, licence, and background. Never go only by word of mouth.

Spread Your Investments Wisely

Don’t put all your eggs in one basket. Diversify. Keep a part in bank deposits, some in mutual funds, and if at all, only a small part in such chit funds.

Know Your Legal Rights

Understand what documents you’re signing. Demand receipts. And if something feels off, report it immediately. Early reporting improves the chances of recovery.

A Look at Past Similar Scams

The Pattern of Greed and Trust Misuse

This scam isn’t the first and won’t be the last. Across India, many chit funds have used similar tactics—promise high returns, build trust, and then vanish. It’s a repeated cycle.

Conclusion: Stay Smart, Stay Safe

This case is a brutal reminder that emotional trust should never replace financial due diligence. If something sounds too good to be true, it usually is. Be cautious. Verify everything. And protect your hard-earned money like your life depends on it — because sometimes, it really does.

FAQs

1. Are chit funds legal in India?
Yes, but only if they are registered and operate under the Chit Funds Act, 1982.

2. How can I check if a chit fund is genuine?
Ask for registration details, check with the Registrar of Chits in your state, and see if they file annual statements.

3. What should I do if I’ve already invested in a suspicious scheme?
Immediately file a complaint with your local police station and provide all proof of transactions.

4. Can the victims recover their money?
Recovery depends on the available assets and how fast the legal system acts. Some money may be recovered, but full refund is rare.

5. What are safer alternatives to chit funds?
Recurring deposits, mutual funds (via SIPs), post office savings schemes, and PPF are safer and regulated options.

Meta Description:
Kerala couple flees Bengaluru after duping 400+ investors in ₹40 crore chit fund scam. Here’s a full timeline, investor stories, warning signs, and how to protect yourself from similar frauds.