Update at 3:56 PM: Janardhan Reddy reaches the office of ACMM magistrate Jagadesh for further investigation. Over 50 police personnel including 2 inspectors, 4 sub inspectors will accompany Reddy
Update at 3:00 PM: Ponzi scam accused Janardhan Reddy has been taken to the hospital for medical examination
Former Karnataka Tourism Minister Janardhan Reddy has been arrested by the Central Crime Branch (CCB) in Bengaluru on Sunday, in connection with the illegal Ponzi scam. Furthermore, CCB has also charged Janardhan Reddy under the Section 204 (destruction of evidence), Section 120 (b) (criminal conspiracy), Section 420 (cheating) of Indian Penal Code (IPC) and under the Prevention of Money Laundering Act, 2002 (PMLA). Reddy’s close aide Ali Khan has also been arrested by the CCB in Bengaluru.
Speaking on the matter, Additional CP, CCB, Alok Kumar stated that decision to arrest Reddy was based on 'credible evidence' and appropriate statements by the witnesses. After his arrest, he will be produced before the magistrate and the CCB will further work towards recovering the money of the investors who got targeted in the scam.
This development has come a day after Janardhan Reddy surrendered after being missing for the past four days. He was taken into custody by the CCB for questioning on Saturday evening.
Republic TV on Saturday accessed a video in which Janaradhan Reddy claimed innocence and stated that 'baseless allegations have been made' against him in the bribery case.
"I have done no wrong, for no reason, there is no base, in front of the world, let the court case be on one side, today the ccb officials, there is not one entry, they should show media even if there is a single entry. Why did they present this is front of the media? It is painful, it is a part of a political conspiracy, but I still have faith that the due procedure will be followed. I am proud of the police department. I am someone who was born and raised in the police quarters. In case that has legal implications, there is no question of fear, as I have done no wrong", he said in the video.
On November 7, CCB officials had also interrogated Fareed and Ballari Ramesh for their involvement in the case. A day after this, Republic TV accessed an exclusive video showing interrogation being carried by CCB ACP Venkatesh Prasanna in the Ponzi scam in the hotel room where the alleged bribery deal was made. Fareed Ahmed, the accused businessman who started Ambidant Marketing private limited in Bengaluru, and Gali Janardhan Reddy, had held a meeting at the hotel in which the former BJP leader allegedly demanded 18 crore rupees from Fareed to quash a case pending against him before the ED, using his sources.