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AP Govt disburses ₹667 crore for Agri Gold scam victims

Our Bureau | | | Updated on: Aug 24, 2021
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Money deposited into accounts of over seven lakh victims who deposited upto ₹20,000

Andhra Pradesh Government has credited ₹666.84 crore into the accounts of over seven lakh victims of Agri Gold scam who deposited upto ₹20,000.

Speaking on the occasion, Chief Minister YS Jagan Mohan Reddy said the victims include daily wage workers to middle-class families, who deposited their earnings trusting the management.

Agri Gold launched a collective investment scheme without regulatory approvals and collected crores of rupees. The scam was busted in 2015 and the State Government took over the assets. Keeping the promise made to those victims, the State government has credited ₹905.57 crore to almost 10.4 lakh families in two phases, he said.

Also read: AP to use direct benefit transfer scheme for power supply to farm sector

As identified by District Legal Service Authority (DLSA), the State government had released ₹238.73 crore in November 2019 to 3.4 lakh Agri Gold scam victims who had deposits less than ₹10,000.

Almost 3.86 lakh depositors who were left out in the first tranche, were credited with ₹207.61 crore on Tuesday.

The Chief Minister stated that the entire process is being done in the most transparent way through volunteers and CID officials.

Published on August 25, 2021

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