Enforcement Directorate attaches Rs 4,109 crore worth of assets in Agri Gold ponzi scam case
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Enforcement Directorate attaches Rs 4,109 crore worth of assets in Agri Gold ponzi scam casePTI
Last Updated: Dec 24, 2020, 02:49 PM IST
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The assets attached provisionally under the Prevention of Money Laundering Act (PMLA) are located in Andhra Pradesh, Karnataka, Odisha, Tamil Nadu and Telangana.
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NEW DELHI: The Enforcement Directorate has attached properties worth Rs 4,109 crore, spread across various states, in a money laundering case linked to an alleged ponzi scam, the agency said on Thursday. The case pertains to Agri Gold Group of Companies, whose three promoters had been arrested by the central agency on Tuesday.
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AAA The Enforcement Directorate (ED) has attached assets worth ₹4,109 crore in connection with a Ponzi scam involving ₹6,380 crore collected from over 32 lakh investors in six States. The agency had arrested three promoters of the Agri Gold Group of companies in the case earlier this week.
The attached properties include 2,809 land parcels, Haailand Amusement Park of Arka Leisure and Entertainments Private Limited spread over 48 acres in Andhra Pradesh, shares of various companies, plants and machinery.
They are located at Anantpur, Kurnool, Krishna, Chitoor, Guntur, Kadapa, Vizianagaram, East/West Godavari, Visakhapatnam, Nellore, Prakasam, Srikakulam and Kadapa in Andhra Pradesh; Bengaluru, Kolar, Yadgir and Mandya in Karnataka; Khurda in Odisha; Krishnagiri in Tamil Nadu; and Mahaboob Nagar, Narayanpet, Khammam, Mahboob Nagar, Hyderabad, Ranga Reddy, Vikarabad , Medchal, Malkajgiri, Nalgonda and Mahabubnagar in Telangana.
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ED attaches assets worth Rs 4,109 crore across various states in Agri Gold Ponzi fraud scam.
The Enforcement Directorate (ED) has provisionally attached assets worth Rs 4,109 crore under Prevention of Money laundering Act, 2002 (PMLA) in Agri Gold Ponzi fraud Case. The attached assets include 2,809 landed properties, Haailand Amusement Park of Arka Leisure and Entertainments Private Limited in Andhra Pradesh spread over 48 acres, shares of various companies, plants and machinery.
These attached properties are located in the following districts of various states:
Andhra Pradesh: Anantpur, Kurnool, Krishna, Chitoor, Guntur, Kadapa, Vizianagaram, East and West Godavari, Visakhapatnam, Nellore, Prakasam, Srikakulam, Kadapa Districts.
3 promoters of Agri Gold Group arrested in Rs 6,830Cr ponzi scam
Wed, Dec 23 2020 03:04:47 PM
New Delhi, Dec 23 (IANS): The Enforcement Directorate (ED) on Wednesday said it has arrested three promoters of the Agri Gold Group of Companies in a Ponzi Scheme Fraud Case worth Rs 6,380 crore.
Those arrested have been identified as Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao, Avva Hema Sundara Vara Prasad, who are the main accused under the sections of the prevention of money laundering act (PMLA).
The accused were produced before the ED PMLA Court, Hyderabad, which granted them 14-day judicial custody.
The ED had filed a case on the basis of multiple FIRs lodged in Andhra Pradesh, Telangana and Karnataka.
ED arrests three promoters of Agri Gold Group in connection to Rs 6,380 Ponzi scam
According to the investigations by the ED based on FIRs lodged in Andhra Pradesh, Telangana, and Karnataka, Avva Venkata Rama Rao is touted as the perpetrator of the scam, executing it through Agri Gold Group of companies
BusinessToday.In | December 23, 2020 | Updated 16:36 IST
The Enforcement Directorate (ED) has identified three people in connection to the Ponzi scam involving Agri Gold Group of companies, ED officials said. Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao and Avva Hema Sundara Vara Prasad have been produced before the ED court in Hyderabad in the scam amounting to Rs 6380 crore.