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Enforcement Directorate authorities on Tuesday reportedly picked up Agri-Gold chairman A. Venkata Rama Rao and its two directors Sheshu Venkata Narayana and Hema Sunder Prasad.
They were being questioned about the alleged diversion of funds collected from the depositors of Agri-Gold to some shell companies. Earlier, Crime Investigation Department authorities of Andhra Pradesh and Telangana had registered cases against Agri-Gold on charge of diversion of money belonging to its depositors to some shell companies.
ED authorities registered a case under Money Laundering Act based on the findings of the investigation carried out by the CID and picked up the chairman and two directors.