Anand Appugol still reportedly leading a lavish life

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The Deccan Chronicle in a reports mentions that even, nine months after Sangolli Rayanna Cooperative Society ponzi scheme scam broke out, the depositors continue to run from pillar to post to get their money back from the main accused film producer Anand Appugol and they are skeptical whether the police or the Cooperative Department is serious about expediting the case.

It may be recalled that Anand Appugol was arrested from Panvel in September 2017 and then later let out on bail after being in jail for three months.

Anand Appugol the Chairman of Shri Krantiveer Sangolli Rayanna Co-Operative Credit Society was not able to return the deposits even after maturity and the amount is the tune to Rs.300 crores.


Appugol had said that he was in a financial crisis and hence needs more time to repay, but he did not give any concrete plan. Each day hundreds of depositors gather infront of the main office on Swami Vivekanand road but with no one to open the doors the 52 branches of the society have been closed now.

Apart from arresting Appugol and filing a case, the Belagavi police have hardly done anything much. Appugol owns 109 properties, including some lavish bungalows and farmhouses, in the state.

The DC further states, Police authorities claim that in the last few months they have written twice to Cooperative Department to investigate Appugol’s case and submit a report, but they have not heard from them. Some of his customers, who deposited in crores in his society expressed shock over the way Appugol continues to roam in posh cars and questioned the police as to why did it allow him to lead a lavish lifestyle. They have urged the police to immediately seize all his cars until he clears the dues.

4 thoughts on “Anand Appugol still reportedly leading a lavish life”

  1. Rs.300 crores scam – WoW – that blew me – even Belgaum has such big money scamsters to challenge Mallya/Nirav


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