The Enforcement Directorate (ED) has handed over attached properties worth around ₹611 crore to the victims in the Agri Gold case. The properties, whose current market value is pegged at over ₹1,000 crore, include hundreds of plots and parcels of land across Andhra Pradesh, Telangana and Karnataka.

The Special PMLA Court in Hyderabad allowed the ED’s petition for restitution on June 10, enabling the release of these assets to the Andhra Pradesh Crime Investigation Department (CID) for onward distribution to the victims. This move comes under Section 8(8) of the Prevention of Money Laundering Act, and the Andhra Pradesh Protection of Depositors of Financial Establishments Act.

Among the 397 immovable properties cleared for restitution, 380 are located in Andhra Pradesh, 13 in Telangana, and 4 in Karnataka.

The ED had launched its probe into the scam in 2018 after multiple FIRs were lodged across five States and Union Territories. Investigators found that the Agri Gold group had operated a fraudulent collective investment scheme under the guise of a real estate business, floating more than 130 shell companies. The group collected deposits from around 32 lakh investors, promising either high returns or a piece of land, but ended up diverting these funds to unrelated sectors like dairy, entertainment, Ayurveda, and energy.

As part of the ongoing investigation, the ED has so far attached properties worth over ₹4,141 crore and arrested key accused, including Avva Venkata Rama Rao, Avva Venkata Seshu Narayana Rao and Avva Hema Sundara Vara Prasad. The agency had already restituted assets valued at ₹3,339 crore in February this year. With the latest tranche, the total value of restituted properties in the case has reached ₹3,950 crore, with the present market worth exceeding ₹7,000 crore.

The agency has filed prosecution complaints against 36 accused, and courts have taken cognisance of the charges, paving the way for further legal proceedings.