Ambidant Ponzi scam: Janardhan Reddy arrested, to be produced before magistrate
Nov 11, 2018, 4:10 PM IST
Speaking to media, additional commissioner, crime, Alok Kumar said that Janardhan reddy was arrested. But he said he is not sure if he will be hended over to police custody or judicial custody. Speaking about Reddy's close aide Ali Khan, he said that Khan had obtained bail from sessions court and as they were producing him before 61st ACMM court, the magistrate cannot cancel the bail granted earlier. Mining baron Janardhan Reddy has been accused of being involved in a ponzi scam. He took 57kg of gold from Ambidant Marketing Pvt Ltd founder-director Syed Ahmed Fareed, promising to pay unscrupulous Enforcement Directorate officers to let him off the hook. He has been evading the police for four days.