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Ponzi scam case: Janardhan Reddy sent to judicial custody till November 24

Mining baron was arrested after hours of intense questioning by police in connection with a Ponzi scam case, Additional Commissioner of Police (Crime) Alok Kumar said.

Edited by: India TV News Desk, New Delhi [ Updated: November 11, 2018 20:16 IST ]
Image Source : PTI/FILE

Janardhan Reddy

Former Karnataka minister G Janardhan Reddy who was arrested by Bengaluru Central Crime Branch on Sunday, in connection with Ambident Group alleged bribery case, has been sent to judicial custody till November 24.

Mining baron was arrested after hours of intense questioning by police in connection with a Ponzi scam case, Additional Commissioner of Police (Crime) Alok Kumar said.

Reddy, who appeared at the Central Crime Branch (CCB) office on Saturday, was arrested after the questioning ended Sunday morning, Kumar said.

The CCB also arrested Reddy's close aide, Ali Khan, in the case, he said.

"Today Janardhan Reddy was produced before the Judge & the Court was pleased to accept our bail application on record. Judge has granted time till tomorrow to file objection on the main bail application & the application will be taken tomorrow," said Janardhan Reddy's lawyer.

Reddy, who was allegedly on the run, had appeared before police along with his advocates. He had claimed the allegations against him were part of a "political conspiracy".

ALSO READ: Former Karnataka Minister Janardhana Reddy, aide arrested by Central Crime Branch in ponzi scam

The CCB police had been looking for him since Wednesday in connection with a transaction worth crores of rupees, allegedly linked to a ponzi scheme.

It was also on the lookout for Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd, a company allegedly involved in the ponzi scheme, to bail him out of an Enforcement Directorate investigation.

(With inputs from agencies)

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