Reddy ap­pears be­fore cops in Ponzi scam case

The Times of India (New Delhi edition) - - TIMES NATION -

Ben­galuru: A day af­ter he was sum­moned by the Cen­tral Crime Branch (CCB), for­mer Kar­nataka min­is­ter Gali Ja­nard­hana Reddy on Satur­day ap­peared be­fore the agency in con­nec­tion with the on­go­ing probe into Am­bidant ponzi scheme, a Rs 600 crore fraud.

Pre­lim­i­nary in­ves­ti­ga­tions by CCB had re­vealed that Reddy and his as­sis­tant Me­hfuz Ali Khan had re­ceived 57kg gold worth Rs 18 crore from Am­bidant Mar­ket­ing Pri­vate Lim­ited to ‘ne­go­ti­ate’ with ED of­fi­cials to go easy against its pro­moter Syed Ahmed Fa­reed. Am­bidant is un­der scan­ner for col­lect­ing de­posits from the pub­lic by promis­ing high re­turns. Po­lice grilled Reddy till late in the night to as­cer­tain his in­volve­ment in the scam.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.