Government announces Rs.3 lakh ex-gratia each to AgriGold victims kin

Thursday, March 23, 2017

Chief Minister Nara Chandrababu Naidu on Thursday announced in the Assembly that all the accused in the AgriGold scam would be brought to book.

After a much debate on the issue, the Chief Minister said that so far seven persons have been arrested out of 18 accused and the CB-CID was trying to trace those at large. He was prepared to get the scandal probed by CBI.

Three companies – AgriGold Farms Estates Pvt Lt., AgriGold Constructions Pvt.Ltd and Dream Land Ventures and several other fictitious companies floated by the prime accused A.V.Rama Rao and his brothers collected nearly Rs.6,300 crore which was diverted to 87 suitcase companies. The auction of AgriGold properties which started in April last had yielded Rs.16.05 crore till date, he said.

Chandrababu said that the government was will to post details of the 32 lakh plus victims online with court permission subject to the conduct of a forensic audit and added that the government was in favour of paying a compensation of Rs.3 lakh to kin of each victim and if necessary raise it to Rs.5 lakh.

The number of depositors in the State stood at 19 lakh with sums invested amounting to Rs.4,000 crore. The value of movable and immovable properties in AP, Telangana, Tamil Naidu, Karnataka and Odisha is about Rs.2,500 crore.

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