Politics
Last week, Jagan had kicked up a storm with his comments on the minister in the Assembly.
Image credit: Screenshot/YSRCPofficial
The Andhra Pradesh branch of the Crime Investigation Department (CID), which has been probing the multi-crore AgriGold scam gave a clean chit to State Agriculture Minister Prathipati Pulla Rao’s wife on Saturday.
According to a report in TNIE, the CID stated that the lands purchased by her did not belong to the AgriGold company and all allegations were baseless.
The CID is also reported to have announced that the allegations against YSRCP leader Gowtham Reddy were also baseless.
This comes after YSRCP chief YS Jaganmohan Reddy kicked up a storm in the Assembly after he alleged that Agriculture Minister P Pulla Rao’s wife was involved in the purchase of Agri Gold properties.
Jagan alleged that Rao’s wife bought the properties even after the probe began into allegations against the company for cheating depositors.
The Agrigold scam involves several thousand crore rupees and many states including Telangana, Andhra Pradesh, Tamil Nadu and Karnataka. 3.2 million people were duped in total.
For 20 years, the company lured several lakh customers on the promise that their investment would come back to them with higher returns.
It also sent out several ‘agents’ to convince people to invest in the group of companies.
The company allegedly took this money and invested heavily in real estate, before branching out to other areas as well, all the while promising their customers that the returns would only increase.
However, all the customers soon found their cheques bouncing, and the company was charged with cheating, fraud and irregularities.Read: Explainer: What is the Agri Gold scam, and why has it taken Andhra by storm?
According to a report in TNIE, the CID stated that the lands purchased by her did not belong to the AgriGold company and all allegations were baseless.
The CID is also reported to have announced that the allegations against YSRCP leader Gowtham Reddy were also baseless.
This comes after YSRCP chief YS Jaganmohan Reddy kicked up a storm in the Assembly after he alleged that Agriculture Minister P Pulla Rao’s wife was involved in the purchase of Agri Gold properties.
Jagan alleged that Rao’s wife bought the properties even after the probe began into allegations against the company for cheating depositors.
The Agrigold scam involves several thousand crore rupees and many states including Telangana, Andhra Pradesh, Tamil Nadu and Karnataka. 3.2 million people were duped in total.
For 20 years, the company lured several lakh customers on the promise that their investment would come back to them with higher returns.
It also sent out several ‘agents’ to convince people to invest in the group of companies.
The company allegedly took this money and invested heavily in real estate, before branching out to other areas as well, all the while promising their customers that the returns would only increase.
However, all the customers soon found their cheques bouncing, and the company was charged with cheating, fraud and irregularities.Read: Explainer: What is the Agri Gold scam, and why has it taken Andhra by storm?
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