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Janardhana Reddy wanted in money laundering case, absconding

Janardhana Reddy wanted in money laundering case, absconding

Janardhana Reddy wanted in money laundering case, abscondingBengaluru police launch massive manhunt to find the mining baron

Ballari mining baron and former Minister G. Janardhana Reddy, who is allegedly absconding, once again found himself in trouble with the law.

The Bengaluru city police, on Wednesday, announced that he is wanted in a ₹20-crore money-laundering case and launched a massive manhunt for him.

This comes a day after his friend B. Sriramulu from the Bharatiya Janata Party suffered a political setback in Ballari, with his sister J. Shantha losing in the bypolls.

Cheating investors

The case pertains to a transaction by Syed Ahmed Fareed, founder of Ambidant Marketing Pvt. Ltd., who allegedly paid Mr. Reddy ₹20 crore — ₹2 crore in cash and 57 kg of gold bullion worth ₹18 crore — by laundering it through two jewellery firms.

Mr. Fareed has been in the dock for cheating thousands of investors after he promised them high returns, but failed to deliver. It was while investigating the businessman that the police stumbled upon the payments made to Mr. Reddy.

“Mr. Fareed has claimed that he paid Mr. Reddy for his help in getting the Enforcement Directorate (ED) investigation against his firm closed. But we are yet to verify this claim,” said Bengaluru Commissioner T. Suneel Kumar.

“Mr. Reddy is absconding and efforts are on to bring him in for investigation,” he added.

Prime suspect

K. Mehfuz Ali Khan, a close aide of Mr. Reddy, who allegedly received the payment, is also a prime suspect in the case and is currently absconding. A city court granted him anticipatory bail on Wednesday.

Special teams from the Central Crime Branch are in Ballari, Chitradurga, Hyderabad, and Kadapa in search of the duo.

The teams also raided multiple residences of Mr. Reddy and Mr. Khan in Bengaluru and recovered documents.

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