ED arrests 3 promoters of Agri Gold Group of Companies in ponzi scheme fraud case ANI | Updated: Dec 23, 2020 23:06 IST
New Delhi [India], December 23 (ANI): The Enforcement Directorate (ED) on Wednesday said that it has arrested three promoters of the Agri Gold Group of Companies in a Ponzi Scheme Fraud Case worth Rs 6,380 crore.
The accused has been identified as Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao, Avva Hema Sundara Vara Prasad who are the main accused in the Prevention of Money Laundering Act (PMLA) investigation into Rs 6,380 crore Agri Gold Ponzi Scam .
The accused were produced before the EDPMLA Court, Hyderabad which has granted 14 days of judicial custody to all the 3 accused, ED said in a statement.
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ED arrests 3 people in Rs 6,380 crore Agri Gold Ponzi scam
ED arrests 3 people in Rs 6,380 crore Agri Gold Ponzi scam
The ED had initiated its investigation based on multiple FIRs lodged in Andhra Pradesh, Telangana, and Karnataka.
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The Enforcement Directorate (ED) has arrested three persons in connection with the Rs 6,380 crore Ponzi scam involving Agri Gold Group of Companies, officials said. The probe agency produced Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao, and Avva Hema Sundara Vara Prasad before the ED court in Hyderabad which granted 14 days of judicial custody to all the 3 accused.