Bengaluru: Nearly a decade after the collapse of the AgriGold investment scheme left lakhs of investors across southern India awaiting the return of their hard-earned money, a fresh verification drive launched by Andhra Pradesh govt in coordination with Karnataka CID has renewed hopes of a breakthrough for victims.The initiative aims to authenticate original AgriGold bonds and receipts held by investors and agents across Karnataka, paving the way for renewed scrutiny of long-pending claims. After years of uncertainty and delays, the exercise has raised hopes that the financial grievances of affected investors may finally receive renewed attention.The verification drive is being coordinated by a dedicated group of ministers appointed by Andhra Pradesh govt. Following discussions between the Director General of Police of Andhra Pradesh CID and Pronab Mohanty, IPS, Director General of Police, Karnataka CID, special teams have been constituted to streamline and oversee the verification process.To facilitate the process, nine special verification centres have been established across Karnataka, including Bengaluru, ensuring easier access for investors seeking to validate their long-pending claims. According to an official release by the Karnataka police, the centres will function from 10 am to 5 pm every day except Sundays. The verification drive is scheduled to continue through Nov, with the Bengaluru City centre set to operate from Oct 27 to Nov 6.Senior police officials said the exercise provides an opportunity for investors who have preserved their original bonds and receipts over the years to have their documents formally verified. However, the verification process does not guarantee immediate repayment. Investors will have to await further instructions from the authorities regarding the next steps in processing their claims and the eventual disbursement of funds.Centres to facilitate verificationIn Bengaluru, investors can visit the office of the DGP, CID, at Carlton House on Palace Road, near Maharani College, from Oct 27 to Nov 6. Deputy superintendent of police Ravi CV has been designated as the contact officer and can be reached at 9448530601.Regional verification centres have also been set up at district police headquarters in Tumakuru, Mandya, Bagalkote, Udupi, Raichur, Dakshina Kannada, Chikkaballapura and Hassan. Each centre will cater to investors from two or three adjoining districts.Investors must bring the original AgriGold bond, cash receipt and other relevant documents, along with a self-attested colour photocopy of the original bond, Aadhaar card, PAN card, a photocopy of their bank passbook, a passport-size photograph, their mobile number and the mobile number linked to their bank account. They should also provide the agent’s name and mobile number, if available.In cases where the depositor has died, the nominee must produce the death certificate. If both the depositor and the nominee are deceased, the original death certificates of both must be submitted for verification.Inset Box 1:Multi-state financial fraudThe AgriGold scam was one of the major financial fraud cases to affect investors across southern and central India. The group allegedly collected deposits from around 32 lakh investors, with the amount involved estimated at Rs 6,380 crore. Investors were drawn to the scheme by promises of attractive returns or the allotment of agricultural land plots at heavily discounted rates upon maturity. The company operated through an extensive network of commission agents across Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Odisha.The issue came to light in late 2014, when investors began facing difficulties in receiving their maturity payments. As complaints poured in from investors and agents across multiple states, police launched investigations, followed by raids and the arrest of key management personnel. The alleged financial irregularities subsequently became the subject of a prolonged legal and investigative process.For thousands of families, the collapse of the scheme meant losing savings accumulated over years, often invested in the hope of securing financial stability, owning land or earning future returns.
