Vijayawada: Haailand Resorts MD Alluri Venkateswara Rao was arrested by the AP CID authorities on Wednesday night . He was held on charges of colluding with the AgriGold chairman Avva Venkata Rama Rao in the AgriGold scam where more than 32 lakh depositors were cheated through the AgriGold Deposit scheme. Venkatestwara Rao was earlier the Marketing Manager in AgriGold and on August 29 2005, took up the responsibilities of the Arka Leisure and Entertainments Ltd., under which Haailand Resorts operates .
The AgriGold case counsel appearing for Alluri Venkateswara Rao told the High Court that the Haailand property in Vijayawada, which is being claimed by the company, does not belong to it and that it was a separate entity. The bench comprising Justice V. Ramasubramanian and Justice S.V. Bhatt pulled up the AgriGold management and AP CID and asked the company as to why it had estimated the cost of the property and made claims of fetching huge value and then retract on this statement and now state that Haailand is not owned by them .
The bench directed the AgriGold management to file an affidavit stating the reasons that the property does not belong to it and also pulled up the CID officials for not checking proper details about the Haailand property. Taking a serious note of this, the High court ordered a report on the role of Alluri Venkateswara Rao. Hence, this led to his arrest by the AP CID last night.
With Venkateswara's arrest, the total number of accused goes up to 27 in the AgriGold case and he is likely to be produced in court today.