Paradise Papers leak: ED seizes Hyderabad-based Agri Gold s assets worth Rs 4,100 cr
The three accused Avva Venkata Rama Rao, Avva Venkata S Narayana Rao and Avva Hema Sundara Vara Prasad have been arrested under various sections of the Prevention of Money Laundering Act (PMLA)
BusinessToday.In | December 25, 2020 | Updated 10:37 IST
The CBI started investigating the company after assessing FIRs filed against it in Andhra Pradesh, Karnataka and Telangana for allegedly defrauding around 32 lakh investors of funds worth Rs 6,380 crore
A day after the Enforcement Directorate (ED) arrested the three promoters of the Hyderabad-based Agri Gold group of companies in a money laundering case related to the Paradise Papers leak case, the central agency has attached assets worth nearly Rs 4,100 crore.
Updated Dec 25, 2020 | 07:29 IST
The assets attached provisionally under the Prevention of Money Laundering Act (PMLA) are located in Andhra Pradesh, Karnataka, Odisha, Tamil Nadu and Telangana. Representational image
New Delhi: The ED has attached properties worth Rs 4,109 crore spread across various states in a money-laundering case linked to an alleged Ponzi scheme, the agency said on Thursday.
The case pertains to the Agri Gold Group of Companies. Three promoters of the group were arrested by the central agency on Tuesday. The attached assets include 2,809 landed properties, Haailand Amusement Park in the name of Arka Leisure and Entertainments Private Limited in Andhra Pradesh (spread over 48 acres) and shares of various companies, plants and machinery, the Enforcement Directorate (ED) said in a statement on Thursday.
Enforcement Directorate has attached properties worth Rs 4,109 crore.
Hyderabad:
Rs 4,109 crore in properties spread across various states have been attached by the Enforcement Directorate in a money laundering case linked to an alleged ponzi scam that duped about 32 lakh people for over Rs 6,000 crore, the agency said on Thursday.
The case involves Agri Gold Group of Companies, whose three promoters were arrested by the central agency on Tuesday. The attached assets include 2,809 landed properties, Haailand Amusement Park in the name of Arka Leisure and Entertainments Private Limited in Andhra Pradesh (spread over 48 acres) and shares of various companies, plants and machinery, the Enforcement Directorate said in a statement.
ED attaches Rs 4,100 crore assets of Hyderabad firm in Paradise papers leak case
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ED attaches Rs 4,100 crore assets of Hyderabad firm in Paradise papers leak case
TNN / Updated: Dec 25, 2020, 08:01 IST
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(Representative image)
NEW DELHI: A day after the Enforcement Directorate (ED) arrested three promoters of Hyderabad-based Agri Gold in a money laundering probe related to Paradise Papers leak case, the agency on Thursday claimed it has attached assets of the accused to the tune of Rs 4,100 crore.
“The attached assets include 2,809 land properties, Haailand Amusement Park in Andhra Pradesh spread over 48 acres, shares of various companies and factories. The properties are located in several states, including Telangana, Andhra Pradesh, Tamil Nadu, Karnataka and Odisha,” it said.
ED attaches properties worth Rs 4,109 crore in Agri Gold Ponzi scheme case; three arrested The assets attached provisionally under the Prevention of Money Laundering Act (PMLA) are located in Andhra Pradesh, Karnataka, Odisha, Tamil Nadu and Telangana File photo of Enforcement Directorate logo
New Delhi: The ED has attached properties worth Rs 4,109 crore spread across various states in a money-laundering case linked to an alleged Ponzi scheme, the agency said on Thursday.
The case pertains to the Agri Gold Group of Companies. Three promoters of the group were arrested by the central agency on Tuesday. The attached assets include 2,809 landed properties, Haailand Amusement Park in the name of Arka Leisure and Entertainments Private Limited in Andhra Pradesh (spread over 48 acres) and shares of various companies, plants and machinery, the Enforcement Directorate (ED) said in a statement on Thursday.