A day after the Enforcement Directorate (ED) arrested three promoters of the Agri Gold Group of Companies in a Ponzi scheme fraud case worth Rs 6,380 crore, the financial probe agency on Thursday attached properties worth Rs 4,109 crore of the group. The ED has arrested Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Raon, and Avva Hema SunVara Prasad, the main accused under the sections of the prevention of money laundering act (PMLA). An ED official on Thursday said the agency attached assets worth Rs 4,109 crore under the Prevention of Money-laundering Act, 2002 (PMLA) in the Agri Gold Ponzi fraud case. While the ED attached properties of the group in Karnataka`s Bengaluru, Kolar, Yadgir, and Mandya districts. According to ED, the scam was perpetrated by accused Avva Venkata Rama Rao through Agri Gold Group of Companies.

Source: dna December 24, 2020 12:33 UTC