Hyderabad/Vijayawada: The sleuths of the income-tax department on Thursday conducted raids on the scam-hit Agri Gold offices and residences of its directors in Hyderabad and Vijayawada. The raids, that began in the morning, were continuing even when the last reports came in late in the evening on Thursday.

The Crime Investigation Department is already probing criminal cases booked against the company and its directors. Following protests by the depositors, the state government had ordered a CID probe.

Depositors claimed that Agri Gold management had claimed that the market value of Agri Gold lands in AP would be around Rs 20,000 crore. The depositors are demanding a probe into the allegations of diversion of funds collected from depositors.