CID Investigation On Agrigold Scam

agri goldThe State government has moved the investigation of Agrigold scam to  the CID department.Police conducted  raids on the company’s office in Nellore and its chairman’s house in Vijayawada on Sunday. Sources in Vijayawada said the searches in the house of company’s chairman were carried out by the West Godavari police on the orders of Superintendent of Police Dr K Raghuram Reddy. The police acted on the complaint filed by a customer in the Agri Gold Company at Pedapadu police station, the source said.  Meanwhile, depositors in the company staged agitation in front of Agri Gold offices in Vijayawada, Atmakuru in Nellore district, Dharmavaram in Anantapur district, Ongole in Prakasam district and Srikakulam. The Agrigold group,is a nearly  500 crore firm ,it has its business in streams such as Finance, Agri products, realestate ana recreation .Avvas V rao is the owner of this group of industries.This firm is in news since a few months because this firm is not refunding the deposits of the the investors even after their maturity period is over. AP Home Minister, and Irrigation Minister Mr.UMA Maheswara Rao has examined the situation.

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