The is the biggest fraud being investigated by the CID, AP.
Total Depositors : 32 lakhs
Andhra Pradesh : 19.52 lakh
Amount cheated by the Company : Rs.6,380 crores.
Andhra Pradesh : Rs.3,966 crores.
As of now, the following 6 cases have been registered on them and all are being investigated by the CID, Andhra Pradesh.
1) Cr.No.3/2015 u/s 120(b), 420 IPC, Sec.45 of RBI Act & Sec.4 of PCS &
MCS (B) Act, 1978, Sec.5 of APPDFEA, 1999 of Pedapadu PS of West Godavari District.
2) Cr.No.378/2014 u/s 120 (b), 406, 420 IPC & Sec.5 of APPDFEA, 1999
of Nell ore III Town PS of Nellore District.
3) Cr.No.4/2015 u/s 406, 420, 506, 509 r/w 34 IPC & Sec. 5 of APPDFE
Act, 1999 of Nandyal I Town PS of Kurnool District.
4) Cr.No.6/2015 u/s 406, 420 r/w 34 IPC of Madanapally II Town PS of
5) Cr.No.31/2015 u/s 420, 508, 197 IPC and Sec.156 (b) of Cr.P.C., of
Chinn Chowk PS of YSR Kadapa District.
6) Cr.No.7/2015 u/s 406, 420 IPC and Sec.5 of APPDFE Act, 1999 of II
Town L&O PS of Rajahmundry.
The following persons were arrested and remanded to judicial custody.
Properties (immovable and movable) have been attached under the following orders:
Ad-interim orders were made absolute by the Special Court, Eluru in the above GOs. CID was taking steps to carry out auction of the above properties in order to distribute the amount to the victim depositors.
In the meanwhile, Telangana Agri Gold Customers and Agents Welfare Association filed a PIL in the Hon’ble High Court for speedy disposal of the amounts. Hon’ble High Court has constituted a Committee under the Chairmanship of Hon’ble Justice Surya Rao. (On his sudden demise, Hon’ble Justice Seethapathi Rao (Retd.) is appointed in his place.) This Committee is taking steps to conduct auction of the above attached properties.
The Government of Andhra Pradesh, in general and CID, AP, in particular is extending all cooperation to the Committee appointed by the Hon’ble High Court in the task