Mining baron Reddy appears before police in ponzi scam case

After remaining elusive for three days, former Karnataka minister and mining baron G Janardhana Reddy on Saturday appeared before the police in connection with an alleged ponzi scam, and denied the allegations as a “political conspiracy”.

Reddy, who the police said had been absconding, came in a car to the Central Crime Branch office, along with his advocates, after releasing a video message from an unknown location, saying he would appear before it.

After arriving at the office, Reddy claimed that there was a “political conspiracy” and added that he had faith in the police.

In his video message, he said he was not absconding and was very much in the city, while asserting that there was no need for him to flee.

“I have not committed anything wrong. The police do not have a single document to prove that I am wrong. They are misleading the media,” he claimed in his message telecast by TV channels.

Reddy, who was a minister in the erstwhile Bharatiya Janata Party government in Karnataka, said he never panicked as neither his name figured in the first information report nor was any notice served on him.

“Now that the notice has been issued by the police, I have decided to appear before the Central Crime Branch today itself though the notice says I should appear on Sunday,” Reddy said.

“I decided to make this video to let people know the truth. I have faith in the police and believe that they would not succumb to any political pressure,” he added.

The Central Crime Branch police had launched a hunt for him since Wednesday in connection with a money transaction worth crores of rupees, allegedly linked to a ponzi scheme.

The CCB was also on the lookout for Reddy’s close aide, Ali Khan, who had 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 the Enforcement Directorate investigation.

Bengaluru Police Commissioner T Suneel Kumar had said on Wednesday that Reddy was absconding and the police were looking for him to question him in the case.