Former Karnataka Minister and mining baron Gali Janardhan Reddy was on Sunday arrested by the Central Crime Branch in connection with Rs 600 crore fraud related to the Ambidant Marketing Pvt Ltd “bribery” case.
He was produced before the 6th Additional Chief Metropolitan Magistrate court, which remanded him in judicial custody till November 24.
Janardhan Reddy is accused of taking a Rs 20-crore bribe to bail Syed Ahmed Fareed, an accused in a ponzi scheme case, out from the Enforcement Directorate investigation.
The investigating agency said they have also arrested Reddy’s aide Mehfuz Ali Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd to bail him out from the ED investigation.
After remaining elusive for three days, the former Minister on Saturday appeared before the police in connection with an alleged ponzi scam, and just before surrendering he denied the allegations against him as a “political conspiracy”.
