Police swoops down on Agrigold MD's house
VIJAYAWADA: Three police teams from West Godavari district conducted simultaneous raids on the houses of Agrigold managing director AVSN Rao, director A Hema Sundara Prasad Rao and the Haailand resort owned by the group in Guntur district.
Based on a complaint lodged against Agrigold by its customers at Peddapadu police station in West Godavari district, three teams of police led by DSP (CCS) T Satyanarayana on Sunday conducted the raids, which continued till late night. The complainants alleged that the company failed to honour the checks given to them following the maturity of their investments.
Many people who have invested in different schemes of Agrigold have been complaining for past several months that the management was refusing to pay back their money even after the bonds and other schemes they have invested in have matured.
News Posted: 5 January, 2015
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