Hyderabad: ED attaches Agri Gold properties of Rs 4,109 cr in ponzi scam
The Enforcement Directorate (ED) on Thursday said that it has attached Rs 4,109 crore worth Agri Gold properties in various states including Telangana
The Enforcement Directorate (ED) on Thursday said that it has attached Rs 4,109 crore worth Agri Gold properties in various states including Telangana, Karnataka, Odisha and Andhra Pradesh in the money laundering case related to an alleged ponzi scam.
The ED also attached Hailand properties in the name of Arka Leisure and Entertainments Private Limited (spread across 48 acres) in Andhra Pradesh.
The ED arrested Agri Gold promoters Venkata Rama Rao, Seshu Venkata Narayana, Hemasundara Prasad on Tuesday for allegedly defrauding the 32 lakh investors by collecting huge amount of money i.e, worth Rs 6,380 crore. On Wednesday, the court remanded the three persons to 14-day judicial custody.
Earlier, the High Court directed the Andhra Pradesh and Telangana governments to return the investors money by selling the assets of Agri Gold by conducting sale/auction of properties.