Udupi: Udupi district and sessions court magistrate has remanded the Agrigold scam accused to judicial custody till October 18, on Wednesday.

Agrigold Company’s chairman Avva Venkata Rama Rao, MD Avva benkata Seshu Narayana Rao, director Immadi Sadashiva Rao and Ramachandra Rao were produced before the court by the CID police, on Wednesday.

On behalf of the accused Andhra HC advocate Janaki Ram and Karnataka HC advocate Divakar presented the arguments and on behalf of the prosecution public prosecutor Shanthi Bai argued the case.

In fact there are many cheating cases which were filed against these accused in many places around Karnataka. The first case was filed in Udupi by Saralabettu’s Krishna Naik. Nearly 8,41,616 depositors have lost around Rs 1,640 crore after investing it in Agrigold company.