Andhra Pradesh CID arrests AgriGold key accused from Gurgaon

 Sleuths of AP Criminal Investigation Department (CID) arrested Avva Seetharama Rao, one of the key accused in the multi-crore AgriGold scam, in Gurgaon near Delhi on Tuesday.

VIJAYAWADA:  Sleuths of AP Criminal Investigation Department (CID) arrested Avva Seetharama Rao, one of the key accused in the multi-crore AgriGold scam, in Gurgaon near Delhi on Tuesday. Avva Seetharama Rao was later produced in the 13th additional chief metropolitan magistrate court in the national capital.

Seetharama Rao is the younger brother of AgriGold group chairman Avva Venkatarama Rao and had been on the run since 2014 after the group failed to refund deposits to lakhs of customers in AP, Tamil Nadu, Telangana and Karnataka. According to sources, a special team from Vijayawada headed by additional director general Ch Dwaraka Tirumala Rao went to Delhi a week ago to investigate the whereabouts of Seetharama Rao.

“We received a tip-off that the accused was taking shelter in Delhi for the past two years with a different identity. We have been searching for Seetarama Rao for the past three years. He reportedly played a key role in running the company in Rayalaseema districts and Karnataka,” sources said.When police registered cases and arrested the chairman and MDs of the company, Seetharama Rao went into exile. 

He also tried to get anticipatory bail through senior lawyer Kapil Sibal in Delhi but the court denied it. 
“After he failed to obtain an anticipatory bail, he absconded and tried to save the properties registered in his name and family members. We also learnt that he played a vital role in halting the deal for the purchase of properties by Essel-Zee Group,” sources added.

It may be mentioned that the High Court had decided to auction the properties of AgriGold and repay the depositors. The company cheated 20 lakh depositors to the tune of `7,000 crore in various states. 
“Of the total 17 directors of the company, 14 were arrested so far and three are yet to be arrested. Rao will be brought to Vijayawada or Eluru after obtaining a transit warrant from Delhi court,” a senior CID official said.

Expressing happiness over the latest development, AgriGold Customers and Agents Welfare Association honorary president Muppalla Nageswara Rao hailed the arrest of Seetarama Rao and alleged that he was one of the very important members of the family involved in the scam. He also hoped that the police would get valuable information from the accused. “We are requesting CID officials to speed up the auctioning process of properties as customers are eagerly waiting for their deposits. The association will organise Aathma Ghosha Paadhayathra to Secretariat from Vijayawada and Guntur on May 30,” said Nageswara Rao.

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