HYDERABAD: The Enforcement Directorate (ED) has taken a significant step forward in the investigation of the AgriGold scam by filing a chargesheet. The chargesheet, submitted to the Nampally MSJ Court, has exposed an extensive web of deceit orchestrated by the accused in the scam.
The chargesheet has named promoters of AgriGold, Eevi Rama Rao, Sheesha Narayana Rao and Hemasundar Varaprasad as accused. It has also found the involvement of AgriGold Farms Private Limited, a subsidiary of AgriGold, and 11 other associate companies in the scam.
The chargesheet has reportedly highlighted the benefits reaped by multiple offenders and provided documentary evidence establishing connections between the accused individuals, their financial transactions and misappropriation of investors’ funds.
It has outlined the modus operandi employed by AgriGold, exposing how it manipulated investors’ funds, diverted them for personal gains and expansion of its illegal operations.
The chargesheet has been accepted by the Special Court for Economic Offenses, presided over by Judge M S Jha. AgriGold promoters have been ordered to appear before the court on October 3. The chargesheet claimed AgriGold defrauded 32 lakh depositors of Rs 6,380 crore. In the recent past, the Enforcement Directorate has seized assets worth Rs 4,141 crore in the case.