Key accused in Ponzi scheme case reveals key details, spills beans on Gali Janardhana Reddy’s role

Fareed, the owner of Ambidant, revealed the role of BJP leader and mining baron Gali Janardhana Reddy in this entire Ponzi scam. Reddy had allegedly offered to protect Fareed from Enforcement Directorate.

New Delhi: One of the accused in the alleged Ponzi scheme case has spilled the beans and has given out details on how the bribes were received to the interrogators. Fareed, who is the owner of Ambidant, has been taken into custody and he is the one who allegedly revealed the role of BJP leader and mining baron Gali Janardhana Reddy in this entire nexus. Fareed has been under the scanner of not just the city cops, but also the income tax department and ED as there are many charges against him.

Reddy had promised to help Fareed in the ED case. Later, he was taken to Taj West End hotel by the CCB were the alleged meeting took place and the entire thing was discussed. The CCB has launched a manhunt to nab Reddy who is absconding.

Meanwhile, the CCB conducted a search at Reddy’s residence in Bengaluru and confiscated his passport. The CCB also conduct fresh searches on his Bellary residence today and seized some important documents.

Meanwhile, the BJP has distanced itself from Reddy.

BS Yeddyurappa, Karnataka BJP Chief, when asked “if the state government is targeting Janardhana Reddy after huge margin win in Bellary,” said that he doesn’t agree and added that whoever has done wrong should be prosecuted. The opposition leader also clarified that everything should be done according to law and order.

The Congress party on Tuesday wrested the Bellary (reserved) Lok Sabha seat from the Bharatiya Janata Party. Bypoll had been held in the constituency on November 3.

Congress candidate VS Ugrappa defeated BJP’s J Shantha by a margin of 2, 43,161 votes, according to the results declared by the Election Commission on its website.