Mining baron Janardhana Reddy sent to 14 days judicial custody
Reddy, 51, was taken for a medical test and was later produced before a magistrate. He will be held at the Parappana Agrahara Central Prison in Bengaluru.
Bengaluru: Karnataka’s mining baron Gali Janardhana Reddy, who was arrested here for allegedly shielding the accused in a multi-crore Ponzi scheme, has been sent to judicial custody till 24 November.
“Based on the evidences and statements, Reddy has been arrested and charged with criminal conspiracy,” Additional Commissioner of Police (Crime) Alok Kumar told reporters here.
Reddy, 51, was taken for a medical test and was later produced before a magistrate. He will be held at the Parappana Agrahara Central Prison in Bengaluru till his bail hearing at the sessions court on Monday, 12 November.
The Central Crime Branch (CCB) charged Reddy with shielding a father and son, accused in the Rs 954 crore Ponzi scheme, from being investigated by the Enforcement Directorate (ED) for alleged money laundering in violation of the Foreign Exchange Management Act (FEMA).
His arrest comes a day after he (Reddy) drove to the CCB office on Saturday evening in response to its summons in the Ponzi case.
Reddy was quizzed on Saturday by CCB officials led by Alok Kumar, Deputy Commissioner of Police (DCP) S. Girish and Assistant Commissioner of Police (ACP) Venkatesh Prasanna.
Reddy, a former BJP Minister in the state (2008-11), however, denied his involvement in the case.