Police on look out for 'absconding' Janardhan Reddy in a ponzi scheme case
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Police on look out for 'absconding' Janardhan Reddy in a ponzi scheme case

7 news, 3

Ballari-based mining baron and former Karnataka minister G Janardhan Reddy was absconding as police were on the look out for him in connection with a money transaction worth crores of rupees allegedly linked to a ponzi scheme, top officials said Wednesday.

The Central Crime Branch police here is also hunting for Reddy's close aide Ali Khan, who allegedly struck a Rs 20 crore deal with Syed Ahmed Fareed of Ambidant Marketing pvt Ltd, a company accused of involvement in the ponzi scheme, to bail him out from Enforcement Directorate investigation.

Bengaluru Police Commissioner T Suneel Kumar said Reddy was absconding and police were looking for him to question him in connection with the case.

"Based on the information gathered the investigation is going on further...CCB is after Ali Khan and Janardhan Reddy," he told reporters here.CCB sleuths conducted a search at Reddy's Bengaluru residence and seized some documents, Deputy Commissioner of Police Girish S said.

He also said teams of CCB had gone to various places, but declined to divulge more details.The development comes a day after Reddy's close confidant Sriramulu's sister J Shantha, a BJP candidate, lost in the by-polls from Ballari Lok Sabha constituency, considered a strong hold of the Reddy brothers.

The Congress won the seat breaking BJP's grip over Ballari since 2004.

However, Additional Commissioner of Police (Crime...

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