Agri Gold Group of Companies Chairman and MD , Venkataramana Rao and Avva Venkata Seshu Narayana Rao respectively have been arrested by CID.
CIP has taken them into custody after interrogating for 8 hours , they would be produced before court tomorrow in Eluru, as the first case was registered in Eluru.
Over 32 Lakh people invested their savings in money circulation scheme in Agri Gold. of which 19 lakh are in Andhra Pradesh and Telangana and the rest in Karnataka and Tamil Nadu.
Agri Gold agents and depositors staged a demonstration before High court . More than 8 Agri gold victims have committed suicide .
Agrigold has properties worth of Rs.7,000 crore as per their registration value.The company has not been able to redeem investor’s deposits.