Actually i found out right after posting here, I am using code below:
Dim NewRoleInfo As RoleInfo
NewRoleInfo = New RoleInfo()
NewRoleInfo.RoleGroupID = 0 'Kept on trying until i found out that -1 add the role to 'Global Roles
NewRoleInfo.RoleName = "Group1"
NewRoleInfo.Description = "A social Group"
NewRoleInfo.SecurityMode = SecurityMode.SocialGroup
NewRoleInfo.Status = RoleStatus.Approved
The RoleGroupID was giving me hard time, Before seeing this i thought that SocialGroups are different than Roles and when i used to read anything about Security Roles i thought that when im done creating a social group i should assign it to a role