Ambidant Group bribery case: Former BJP minister Janardhana Reddy arrested

Former BJP minister, G Janardhana Reddy, Ali Khan, Ambident Group, bribery case, Central Crime Branch, Ponzi schemes, Syed Ahmed Fareed, mining baron

Former BJP minister G Janardhana Reddy and his close aid Ali Khan were arrested on Sunday in relation to an alleged Ambidant Group bribery case.

Reddy, a mining baron was questioned for hours by the Central Crime Branch (CCB) on Saturday night after being ‘missing’ for three days. He was presented before a court on Sunday and has been sent to judicial custody till November 24.

“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 & give it to the investors: Alok Kumar, Additional CP, Central Crime Branch, Bengaluru said.

Reddy allegedly took Rs 18-crore bribe to bail Syed Ahmed Fareed out of Enforcement Directorate investigation. Fareed is an accused of Ponzi schemes case.

A private enterprise, Ambidant Group, owned by Fareed, allegedly cheated over 15,000 depositors by promising them a  40 per cent returns on their investments But never got any returns.

Reddy, however, denied any connection to the case. In a video clip released by the local channels, he said, “I have no role in the Ponzi scheme. The police have no evidence to prove my involvement in it. They (police) are misleading the media and the public.”




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