The Enforcement Directorate (ED) has attached assets worth Rs 4109 crore in the money laundering case related to the alleged Ponzi scheme of Agri Gold Group of Companies. These assets are spread in various states of the country. The ED has arrested three promoters of Agri Gold Group of Companies on Tuesday. The ED said in the statement that the attached assets include Rs 2809 crore of immovable property (Landed Properties), Haailand Amusement Park spread over 48 crore acres in Andhra Pradesh and shares of various companies in the name of Arca Leisure and Entertainment Pvt. And machinery.
The ED said in a statement that the provisionally attached properties under the Prevention of Money Laundering Act (PMLA) are located in Andhra Pradesh, Karnataka, Odisha, Tamil Nadu and Telangana.
There is a case of cheating 6380 crores
After investigating several police FIRs registered against Agri Gold Group of Companies in Andhra Pradesh, Telangana and Karnataka, the ED started investigation in the case. It is alleged that Agri Gold has cheated Rs 6380 crore from 32 lakh investors. The main accused are the three promoters of the group Avvaventaka Rama Rao, Avva Venkata S. Narayana Rao and Avwa Hema Sundara Vara Prasad, who have been arrested by the ED.