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AgriGold Chit Fund & Farm Plot Scam | Report Scams

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courtPonzi / Investment SchemeAndhra Pradesh / Telangana

AgriGold Chit Fund & Farm Plot Scam

The Andhra Pradesh government has announced its commitment to resolving the long-pending AgriGold financial fraud case within six months. During a cabinet meeting, Chief Minister N. Chandrababu Naidu directed officials to accelerate the process, bringing renewed hope to thousands of families awaiting justice for nearly twelve years.

State

Andhra Pradesh

First reported

June 2014

Last activity

2025

Estimated victims

30 lakh+

Amount alleged

₹6,380+ Cr (alleged)

Agency involved

State government and CID

Status

State government announced a six-month resolution timeline, a three-member monitoring committee, and proposed a special court

The full story

Everything you need to know about this case, in one place.

AgriGold began operations in 1995, collecting small monthly deposits from lower-income and middle-class families with promises of high returns, doubled money, or land upon maturity. Investigators later discovered that the fraudulent investment scheme had collected over Rs 6,000 crore from nearly 20 lakh people across eight states before collapsing around 2014.

The Chief Minister criticized the previous administration for allegedly weakening the case and misusing connected funds. To expedite relief, the government plans to form a three-member monitoring committee, auction AgriGold properties, conduct public sales of attached assets, and establish a special court.

Not yet reported: The articles do not report specific details on current court case numbers, exact property valuations, or the names of the individuals charged in the scam.

Where the case stands

The latest position in the reports we read.

The state government has announced a six-month timeline to resolve the issue, establish a monitoring committee, auction attached properties, and set up a special court.

Who was affected

Described in general terms; we do not name victims.

Nearly 20 lakh people across eight states, including more than 11.5 lakh in Andhra Pradesh alone, consisting of farmers, labourers, small traders, and daily wage workers.

Timeline

Key dates as reported, oldest first.

1995AgriGold started operations and began collecting deposits through investment schemes.

2014The company began facing severe financial problems and failed to return money or land to depositors.

How the scam worked

The method described in the reports.

The company operated a network of agents to attract middle-class and lower-income families.
It collected small monthly deposits from investors.
Investors were promised high returns, double the deposited amount after maturity, or land registrations in return.
By 2014, the company faced severe financial trouble and stopped honoring maturity payouts or land registrations.

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Keep reading

More cases like this one.

Emu Farming Ponzi Scam (AP/Telangana)Ponzi / Investment Scheme · Andhra Pradesh Nandus Group Alleged Investment & Job FraudPonzi / Investment Scheme · Andhra Pradesh Uttarakhand LUCC Chit Fund Scam: CBI Arrests Two Alleged Masterminds From MumbaiPonzi / Investment Scheme · Maharashtra Investor duped of lakhs in ponzi schemePonzi / Investment Scheme · Multiple States

Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

telugu360.comOriginal report Primary source / searchen.wikipedia.org Relief process for AgriGold victims will begin next month: Andhra minister Nadendla - The New Indian ExpressThe New Indian Express · 6 Aug 2026

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.