Kolkata, June 20 (IANS): Rose Valley official Amit Banerjee, arrested by the Enforcement Directorate in connection with the ponzi scam, was on Saturday sent to ED custody till June 24 by a court here.

Banerjee has been remanded to ED custody till June 24, ED sources told IANS.

Banerjee was entrusted by Rose Valley, a ponzi firm, to supervise the company's field agents. The company has been under the scanner from investigating authorities for collecting money from the public through illegal schemes.

He was also in-charge of affairs of the company in the absence of company's chairman Gautam Kundu, who is now behind bars.

ED sources said Banerjee used to raise money from the public through different schemes.

The ongoing investigation on the Kolkata-based ponzi firm has revealed that it had garnered more than Rs.15,000 crore from public through issue of various financial instruments which did not have sanction of the capital market regulator.

Found guilty of running "collective investment scheme" without necessary approvals, the Securities and Exchange Board of India in June 2014 had ordered the company to refund the money to the investors and barred it from accessing the securities market.