Rs. 600 crore investment fraud case: Mining baron Janardhana Reddy gives cops the slip in Hyderabad

Rs. 600 crore investment fraud case: Mining baron Janardhana Reddy gives cops the slip in Hyderabad

November 9, 2018

Bengaluru/Ballari:  A day after the Bengaluru Central Crime Branch (CCB) Police said that they were investigating former Minister G. Janardhana Reddy’s possible role in “bailing out” Syed Ahmed Fareed in an Enforcement Directorate (ED) case involving a Rs. 600-crore Ponzi scheme, three special teams on Thursday landed in Hyderabad in search of the elusive mining baron.

By evening, one team got a tip that Reddy was at a close friend’s apartment near Banjara Hills, but by the time the Police reached there, he had vanished, investigators said.

One more Police team will leave for Telangana soon, a senior CCB officer said, adding that Reddy had been evading Police from Tuesday.

All the three mobile numbers he uses are switched off. Before switching off his phones, Reddy had made several calls to Hyderabad and other places on the Karnataka border.  

Additional Commissioner of Police (Crime) Alok Kumar said that investigators, who have sought help from  Police of other States to nab Reddy, had questioned Ambidant Marketing Pvt. Ltd. Founder-Director Syed Ahmed Fareed again yesterday. Investigators believe Reddy took 57 kg of gold from Fareed, promising to pay unscrupulous Enforcement Directorate officers to let him off the hook in the investment scam. “We have some big names involved in the case,” Alok Kumar said.

Reddy’s house searched in Ballari: In Ballari, armed with a search warrant, an eight-member CCB team led by ACP Manjunath Chowdary swooped down on Reddy’s house and offices at 8 am.

Reddy’s wife Aruna Lakshmi was present during the search and affixed her signature on the panchanama (witness record) copy. Her father Parameshwara Reddy told reporters later that he cooperated with the investigators.

The searches evidently upset her mother Nagalakshmamma, and Reddy’s friend and BJP leader B. Sreeramulu soon arrived in an SUV to placate her.

Officers recorded the operation on their cellphones as they scoured the kitchen, bedrooms and bathrooms, knocked on walls and opened all lockers in the presence of Sreeramulu and fellow party leader K. Ramachandra Reddy.

2 COMMENTS ON THIS POST To “Rs. 600 crore investment fraud case: Mining baron Janardhana Reddy gives cops the slip in Hyderabad”

  1. Prakash R says:

    There are lot of people in BJP Like Reddy. Even SriRamulu had made ill gotten money from mining. BJP is mostly filled with illegal wealthy people. What will Modi do with these people ? How can he act on corruption when his own party BJP has so many corrupt politicians ? I think Modi acts on non-BJP corrupt people only!

  2. Raju says:

    Modi is not taking any action against any corrupt people! At least yeddi was in jail until he was given a vlean chit by the courts in 2016 October! Ready is being hunted down, shut soon he may get a bail thanks to our judiciary! In a democracy like India even taking action against your open party members for corruption is difficult . These are relatively small fish compared to the whales and shorks in the ocean of corruption! Do you think modi can even touch this list!?
    The list is as follows:
    Bofors scam, a trademark scam of Gandhi family.
    Coal Scam: CAG calculated it to be to the tune of 1.86 Lakhs crores, whoops mind-boggling!
    2G Spectrum Scam: To the tune of 1.76 Lakhs crore!!
    Common Wealth Games scams: To the tune of 70,000 crores, involved parties Suresh Kalmadi, Sheila Dikshit, Robert Vadra amongst others
    Chopper Scam: Perfect example of bribery and corruption in India 610 Million!
    Tatra Truck scam: dirty defence deal
    Adarsh Housing scam: a building made for war widows, but flats occupied by Congress big wigs!
    Cash for vote scam in 2011
    Satyam Scam
    Telgi stamp paper scam
    Insurance Scam
    Telecom scam (Sukh Ram)
    HDW Submarine Scam
    Bitumen scam
    Tansi land deal
    Securities Scam
    JMM Bribery Scandal
    St Kitts case
    Urea scam
    CRB Scam
    Anantnag transport scam
    1971 Nagarwala scandal
    Fooder scam
    Churhat lottery scam
    Animal Husbandry Case (1990)
    Bombay Stock Exchange Fraud
    Hawala scandal (1993)
    Bangalore-Mysore Corridor (1995)
    Sukh Ram (1996)
    Fodder Scam in Bihar (1996)
    Kerala SNC Lavalin power scandal(97)
    Home Trade
    Ketan Parekh Scandal,
    Barak Missile Deal Scandal,
    Tehelka Scandal (2001)
    UTI Scam
    Taj corridor case (2002–2003)
    DSQ Software Scam
    IPO Scam-
    Oil-for-food programme scam (Natwar) (05)
    Human Trafficking Scam
    Cash-for-votes scandal
    Satyam scandal
    2G Spectrum- 2008
    Madhu Koda, laundering money Rs. 4000 Cr
    NREGA Scam


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