in the my website
Janardhana Reddy, Where Art Thou.
Soon after the BJP lost in Ballari constituency, former minister and mining baron G Janardhana Reddy is in trouble over allegations of him receiving 57 kg of gold worth around Rs 20 crore as a part of deal to help a fraudulent company that is being probed by Enforcement of Directorate (ED). Reddy, who was tipped off that central crime branch (CCB) sleuths from Bengaluru are looking for him, has gone absconding.
However, the CCB sleuths under the leadership of additional commissioner of police (crime) Alok Kumar have conducted raids on Reddy’s apartment in Bengaluru, his house and office in Ballari and on his associate Ali Khan’s house in RT Nagar.
According to the police officials, the CCB is investigating a Rs 300-crore Ponzi scheme by Ambidant Marketing Pvt Ltd, after thousands of people were cheated. The company had promised investors high interest rates on their investments. A case was registered in DJ Halli police station about six months ago.
It is said that bank transactions of Ambidant’s owner Syed Ahmed Fareed and his son led the team to Reddy. The police commissioner, T Suneel Kumar, said, “CCB is investigating the cases of cheating filed by many victims, while the ED officials conducted raid on Ambidant under the charges of money laundering. The CCB team, during investigation, found that Fareed had around 12 bank accounts. From one of these, Rs 18 crore was transferred to a dealer in Bengaluru. When the officials questioned him about the transaction, he revealed that the money was paid to Ramesh, the owner of Rajamahal Fancy Jewellers in Ballari for 57 kg of gold bars. Ramesh says that the gold was given to G Janardhana Reddy and his close associate and personal assistant, Ali Khan. Further investigation revealed that Fareed had struck a deal with Reddy seeking his help to get out of the case being investigated by ED.”
Source : https://bangaloremirror.indiatimes.com/bangalore/others/janardhana-reddy-where-art-thou/articleshow/66537870.cms
Thanks you for read my article
Janardhana Reddy, Where Art Thou