Mining baron Janardhan Reddy, his aid Ali Khan arrested in alleged bribery caseMining baron Janardhan Reddy, his aide Ali Khan arrested in alleged bribery case

Mining baron Janardhan Reddy was arrested in Bengaluru today.

Central Crime Branch on Sunday arrested G Janardhan Reddy in connection with Ambident Group alleged bribery case. (PTI)

New Delhi: Central Crime Branch (CCB) on Sunday arrested G Janardhan Reddy in connection with Ambident Group alleged bribery case. He was arrested in Bengaluru today. Bengaluru CCB has also arrested Ali Khan, a close aide of Jaanardhan Reddy. Alok Kumar, Additional CP, Central Crime Branch was quoted by ANI as saying, "We have taken the decision to arrest him (Reddy) on the basis of credible evidence and witnesses statements. We will produce him before the magistrate. We are going to recover the money & give it to the investors." Reddy is accused of taking a Rs 18-crore bribe to bail Syed Ahmed Fareed, accused in a Ponzi scheme case, out from the Enforcement Directorate investigation. The former Karnataka minister and mining baron, Janardhan Reddy was arrested a day after his anticipatory bail was rejected by the court. He was elusive for three days. On Saturday, he appeared before the police in Bengaluru in connection with an alleged ponzi scam where he denied the allegations as a "political conspiracy". Reddy, who the police said had been absconding, came in a car to the Central Crime Branch (CCB) office, along with his advocates, after releasing a video message from an unknown location, saying he would appear before it. His close aide Ali Khan also appeared before police for questioning. The cross-examination, which started at 4 pm on Saturday, will continue for the whole night said Joint Commissioner of Police Alok Kumar. The CCB had earlier launched a hunt for Reddy since Wednesday in connection with a money transaction worth crores of rupees, allegedly linked to a ponzi scheme. It was also on the lookout for Reddy's close aide, Ali Khan, who had allegedly struck a Rs 20-crore deal with Syed Ahmed Fareed of Ambidant Marketing Pvt Ltd. -- a company accused of involvement in the ponzi scheme -- to bail him out from the Enforcement Directorate investigation. Bengaluru Police Commissioner T Suneel Kumar had said on Wednesday that Reddy was absconding and the police were looking for him to question him in the case The case against Reddy A company by the name of Ambidant was set up around 2017 by businessman Syed Ahmed Fareed which promised people about 40 to 50 per cent returns on their investments. Responding to this, thousands of people invested their money into the company, which initially paid good returns, attracting more and more investors. However, the company failed to to pay returns as promised. Following which cases were registered against it, officials said, reported PTI. Later during January or February ED had also raided the company. Meanwhile, Fareed had met Reddy through Ali Khan requesting for help in bailing him out of ED the case, and Rs 20 crore was demanded in the form of gold through a jeweller known to them in Ballari. Explaining about the investigation, PTI quoted the Additional Commissioner of Police (Crime), Alok Kumar as saying that during investigation CCB found a particular transaction of Rs 18 crore being paid by Ambidant to one Ramesh Kothari, who runs Ambika Jewellers in Bengaluru. Kothari on questioning said he had given 57 kg of gold to a jeweller named Ramesh, who runs Raj Mahal Fancy Jewellers in Ballari. Ramesh had claimed that the gold was handed over to Reddy's associate Ali Khan, he said. He said there was no arrest warrant against Reddy, adding that CCB officials have conducted searches at a few places in Bengaluru and Ballari in connection with the case. On reports about Reddy and associates trying to get anticipatory bail in Hyderabad, he said, he got to know about it only through the media. Police said they have photographs of some meetings to prove Reddy's direct link to this case, about which they will seek clarification from him during investigation. (With inputs from agencies)