It may be recalled that they were alleged to have collected deposits to the tune of thousands of Cr of rupees from its clients on different names of the company and duped them. The Hyderabad High Court is monitoring the investigation of the case.
Alluri Venkateshwara Rao previously worked as Agrigold Marketing Manager. He took charge on 29th August, 2005, at R. College Enterprises Private Ltd., Haailand. On Thursday, the police will produce AgriGold Chairmjan and MD Alluri Venkateswara Rao and his brother Kumar in Eluru Court.
Around 3.2 million people in many states, including Andhra Pradesh, Telangana, Tamil Nadu and Karnataka, were duped by the AgriGold scam, which came to light in 2014. AgriGold owes Rs 6,380 Cr to over 32 lakh depositors in 9 states, with Andhra Pradesh leading the list with 19 lakh depositors. AgriGold company lured several lakh customers on the promise that their investment would come back to them with higher returns.
Recently the Members of the AgriGold Customers and Agents Welfare Association laid siege to Haailand, located at Chinakakani in Guntur district. Thousands of victims from Andhra Pradesh, Telanagna, Tamil Nadu, Karnataka, Maharashtra, Puducherry and other States participated in the protest.