Andhra ponzi scam: Assets worth ₹4,000 crore attached

Updated : Dec 25, 2020 07:31
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Editorji News Desk

The Enforcement Directorate has attached properties worth over 4,000 crores spread across several states in an alleged ponzi scam in Andhra in which about 32 lakh people were duped of over 6,000 crore. Three promoters of Agri Gold Group of Companies that allegedly ran the scam have been arrested. According to the ED, the accused floated over 150 companies and collected deposits from general public promising high returns. The probe was started after numerous complaints were filed with police in Andhra, Telangana and Karnataka. The accused allegedly siphoned the funds and illegally diverted the public deposits and invested in companies directly owned by their family.

EDAndhra

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