NEW DELHI: Mining baron and previous state minister Gali Janardhana Reddy was on Sunday arrested by means of the Central Crime Branch in the Rs 600 crore fraud case.
"We have taken the decision to arrest him on the basis of credible evidence and witnesses statements. We will produce him before the magistrate. We are going to recover the money and give it to the investors," said Alok Kumar, Additional CP, Central Crime Branch.
The investigating agency said that they have additionally arrested Reddy's aide Mehfuz Ali Khan.
Reddy was arrested for his suspected role that comes with money laundering, destruction of evidences and helping high accused in making illegal money transactions.
Earlier nowadays, the investigating agency had said that they are in technique of documentation at the moment and Reddy will likely be arrested in couple of hours.
Reddy had seemed before the agency on Saturday night. The CCB probe printed that Reddy and his aide Mehfuz Ali Khan gained 57kg gold worth Rs 18 crore from Ambidant Marketing to 'negotiate' with ED officials to head simple against its promoter Syed Ahmed Fareed.
The law enforcement officials grilled Reddy until late in the night to ascertain his involvement in the money trail.
The CCB had issued a understand to Reddy and Khan on Friday, directing the duo to appear for wondering on Sunday.
However, Reddy arrived on the CCB administrative center in Chamarajpet around 4pm on Saturday, accompanied by means of his legal professional RP Chandrashekar and Khan.
CCB DCP- S Girish took a three-page written statement from Reddy and by means of five.15pm, additional commissioner of police (crime) Alok Kumar arrived on the CCB administrative center.
"Prime accused Fareed was taken to the room where Reddy was being grilled, and they were cross-questioned," resources said including "Reddy was questioned till late mid night".
Earlier, Karnataka commissioner of police, T Suneel Kumar had said, "A company Ambidant, set up in 2016-17 assured investors a return of 30-40 per cent per month in form of profits. Thousands of people were lured to invest. Initially, they returned the first batch profits as promised following which more people poured in. Subsequently, when it failed to return the principal amount, cases were registered. In January 2017, the ED raided the company. The crime branch took over the case and a probe was conducted which revealed that transactions to the tune of Rs. 18 crore were carried out."
Later, it was discovered that the company had allegedly transferred the cash to Ramesh Kothari who runs a billion trade in the name of Ambika Jewellers. On quizzing Kothari, he informed that he had used the cash to shop for the gold, which was passed over to Reddy's private assistant Ali.
"We have taken the decision to arrest him on the basis of credible evidence and witnesses statements. We will produce him before the magistrate. We are going to recover the money and give it to the investors," said Alok Kumar, Additional CP, Central Crime Branch.
Central Crime Branch arrests G Janardhan Reddy in connection with Ambident Group alleged bribery case. https://t.co/GO9hhkOGAM
— ANI (@ANI) 1541922762000The investigating agency said that they have additionally arrested Reddy's aide Mehfuz Ali Khan.
Reddy was arrested for his suspected role that comes with money laundering, destruction of evidences and helping high accused in making illegal money transactions.
Earlier nowadays, the investigating agency had said that they are in technique of documentation at the moment and Reddy will likely be arrested in couple of hours.
Reddy had seemed before the agency on Saturday night. The CCB probe printed that Reddy and his aide Mehfuz Ali Khan gained 57kg gold worth Rs 18 crore from Ambidant Marketing to 'negotiate' with ED officials to head simple against its promoter Syed Ahmed Fareed.
The law enforcement officials grilled Reddy until late in the night to ascertain his involvement in the money trail.
The CCB had issued a understand to Reddy and Khan on Friday, directing the duo to appear for wondering on Sunday.
However, Reddy arrived on the CCB administrative center in Chamarajpet around 4pm on Saturday, accompanied by means of his legal professional RP Chandrashekar and Khan.
CCB DCP- S Girish took a three-page written statement from Reddy and by means of five.15pm, additional commissioner of police (crime) Alok Kumar arrived on the CCB administrative center.
"Prime accused Fareed was taken to the room where Reddy was being grilled, and they were cross-questioned," resources said including "Reddy was questioned till late mid night".
Earlier, Karnataka commissioner of police, T Suneel Kumar had said, "A company Ambidant, set up in 2016-17 assured investors a return of 30-40 per cent per month in form of profits. Thousands of people were lured to invest. Initially, they returned the first batch profits as promised following which more people poured in. Subsequently, when it failed to return the principal amount, cases were registered. In January 2017, the ED raided the company. The crime branch took over the case and a probe was conducted which revealed that transactions to the tune of Rs. 18 crore were carried out."
Later, it was discovered that the company had allegedly transferred the cash to Ramesh Kothari who runs a billion trade in the name of Ambika Jewellers. On quizzing Kothari, he informed that he had used the cash to shop for the gold, which was passed over to Reddy's private assistant Ali.
Ponzi scam case: Mining baron Janardhana Reddy arrested
![Ponzi scam case: Mining baron Janardhana Reddy arrested]()
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November 11, 2018
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