The Crime Investigation Department police produced AgriGold Group of Companies chairman Avva Venkata Rama Rao and Managing Director Avva Venkata Seshu Narayana Rao in court here on Friday.
The CID police, who are probing the multi-crore scam, took them into custody for questioning on Thursday and declared the arrest late in the night.
The CID officials, Eluru Town Deputy Superintendent of Police Venkateswara Rao, District Crime Records Bureau (DCRB) DSP Paideswara Rao and others produced the accused in the court. Earlier, the accused were subjected to medical tests at the Eluru District Headquarters Hospital.
Police shifted Rama Rao and Narayana Rao to Eluru Sub-Jail after the court granted 14 days judicial custody to the accused. Cases were booked against the AgriGold management in Andhra Pradesh, Telangana, Karnataka and other States for allegedly deceiving customers to the tune of crores of rupees.
West Godavari District Superintendent of Police Bhaskar Bhushan said cases were pending against the AgriGold management in Pedapadu, Eluru One-Town, Eluru Two-Town, Kovvur and other police stations in the district.
Later, the cases were transferred to the CID, the SP said.
Depositors, on coming to know about the arrest of the accused, thronged the district court and raised slogans against the company management. At one time, victims and agents of the AgriGold Group tried to attack the chairman and managing director. However, police controlled the protesters.
Heavy security
Police arranged heavy security at the court to prevent any untoward incident in the wake of the arrests and producing of the accused in the court in the sensational fraud case.
The CID sleuths filed a petition in the court seeking custody of the accused. Police, who attached some properties of AgriGold, are planning to question the accused for more information on the assets owned by the group in Andhra Pradesh and the neighbouring States.
Meanwhile, the chairman, while speaking to the media at the court, said the AgriGold management would clear the dues to the depositors, adding that group had never thought of cheating the public.
