Night mare continues for victims of Agri Gold scam

The Agri Gold depositors issue could be resolved soon when Courts opened after summer holidays and the delay came after the SLV group which first opted to buy lands has withdrawn

The Agri Gold depositors welfare association president Muppala Nageswar Rao said the govt has assured that all depositors of Rs.20,000 should be paid in full and those with Rs. One lakh and above would be paid a maximum of Rs.20,000 only.

At a recent meeting with Minister Nakka Ananda Babu the victims of Agrigold scam led by CPI leader Ramakrishna, however, said the agitation will continue till a clear assurance about fund dispersal is made by Government.

Agri gold scam spread in 7 southern and Odisha state as a Collective Investment Scheme (CIS), with its chairman Avvas Venkata Rama Rao and a few others since 1995. The company had allegedly taken this money from 30 lakh people and bought 16,000 acres in all states besides put fixed deposits of Rs.500 crore in all banks However things went wrong since2014 and the company is not able to repay deposits.