The Crime Investigation Department (CID) has cautioned the public that the properties of Abhaya Gold Infratech India Pvt. Ltd. promoted by Kukatla Srinivas were seized for attachment. The public were cautioned not to purchase movable and immovable properties of Kukatla Srinivas, his family members and relatives and also the companies floated by him. As many as 18 criminal cases were registered in different police stations throughout the State, including five at Suryaraopet police station in the city.
In a press release on Saturday, Additional DGP (CID) T. Krishna Prasad said that the people could contact 0866-2537875, 9493896129 to inform the CID Police if they had any information pertaining to the sale of properties of the accused and accused companies for initiating attachment procedure.
Lands in a total extent of 788 acres and 20 cents spread in Krishna, Nellore, East and West Godavari, Khammam and Kadapa districts and in Ongole have been seized. The CID also seized two buildings, and bank accounts that had Rs.45,45,448.09. They also recovered cash of Rs.47,66,764, four cars, three motorcycles, 54 computers, 28 ACs, 12 cell phones, silver articles weighing about four and half kg, he said.
The Additional DGP said that the accused hailing from Prakasam district set up M/s Sri Abhaya Gold Infratech India in 2008. He introduced various deposit schemes such as daily, weekly, monthly, quarterly, half-yearly and yearly and appointed agents offering lucrative commissions. He also collected unauthorized deposits from the public throughout the State by opening 140 branch offices and also established 16 sister concerns.
He diverted crores of rupees deposited by the public to purchase lands, etc. and invested in chit fund companies and LICs. He became defaulter in repayment of the matured amounts to the depositors, he added.
