Bank scam: Film producer Anand Appugol gets bail
Appugol and his family owns about 119 properties in the state that include several sprawling bungalows and farm houses.
BELAGAVI: After his long stay in Hindalga Central Prison, film producer and chairman of Sangolli Rayanna Cooperative Bank, Anand Appugol has been granted bail by the Dharwad High Court Bench on Thursday.
The bail was granted to him on a personal bond of Rs 5 lakh and the court ordered him not to move out of Belagavi district without its approval.
Appugol has failed to return the deposits and FDs worth more than Rs 250 crore to bank's customers that triggered protests in the city demanding his arrest two months ago. He was absconding for some weeks to evade arrest, but was later caught in Mumbai.
He managed to run all branches of his bank effectively for about two decades in Belagavi but suffered huge losses in the recent months.
According to the police, Appugol and his family owns about 119 properties in the state that include several sprawling bungalows and farm houses.
In the last two decades he has invested crores into real estate, besides producing several Kannada films, including Krantiveer Sangolli Rayanna, which was a big hit.
None of his properties have been seized by the police or court so far, but sources said, he had been given time to settle the payments of his customers within a stipulated time.
