Hyderabad: Agrigold accused in CID custody

Hyderabad: AP police handed over the accused in the Agrigold scam to the Telangana CID for interrogation. Agri gold chairman Avva Venkat Ramarao and MD Sesha Narayanarao allegedly had defrauded hundreds of depositors in AP and Telangana promising high interests on deposits. The CID will interrogate the duo for three days from Wednesday.

Officials said the accused were taken into custody by officials from Eluru jail.
Apart from cases filed by the AP police, in Telangana, Mahbubnagar police and Nalgonda police have also filed cases against Agrigold earlier. AP police had already arrested and seized the assets of the accused people. The HC had ordered the state CID to investigate these cases a week back.

Agrigold management is accused of defrauding 3.2 million customers of '6,380 crore by promising them higher returns. The scam was unearthed when the depositors approached the police after the cheques issued to them bounced.