Key accused in AgriGold scam arrested in Delhi

Vijayawada: Andhra Pradesh CID police arrested Avva Seetarama Rao, one of the key accused in the multi-crore AgriGold scam. According to information, the CID police arrested the accused in Gurugaon near Delhi on Tuesday and produced him in a local court. 

Avva Seetarama Rao is the younger brother of the chairman of the AgriGold group, Avva Venkata Ramana Rao, known as A V Rao. The police had been searching for the accused Seetarama Rao for the last three years. He allegedly played very important role in running the company in Rayalaseema districts of and in Karnataka state.  

He was reportedly behind halting the deal for the purchase of properties by Essel Group of companies. It may be mentioned that the High Court had decided to auction the properties of the AgriGold company and repay the depositors. Of the total 17 directors of the company, 14 have been arrested so far and three are yet to be arrested.  

AgriGold Customers and Agents Welfare Association honorary president Muppalla Nageswara Rao hailed the arrest of  Avva Seetarama Rao in Delhi. Nageswara Rao speaking to media at the state CPI office here, alleged Seetarama Rao was one of the very important members of the family, who were involved in the scam and hoped the police would get valuable information from the accused. 

The sources said the accused can be brought to either Vijayawada or Eluru very soon. About 32 lakh customers and agents are waiting for justice in one of the biggest scams in the history of India.