Former Minister and mining baron Janardhan Reddy went absconding after his name emerged in the Rs18 crore bribery case, the police said. Reddy has been missing since Wednesday.
Reddy has been accused of taking a bribe of Rs 18 crore from the owner of Ambident Group Syed Ahmed Fareed. Fareed who was being investigated by the Enforcement Directorate(ED) revealed that Reddy had asked for the money to settle the Rs600 crore mining scam case.
The money was eventually converted to gold and handed over to Reddy’s aide Ali Khan.
According to the police, Fareed allegedly cheated around 15,000 people to the tune of Rs 600 crore through his company Ambident Marketing Finance Ltd by promising them 40-50% interest on investment. After a complaint was filed against Fareed by some members of the public last year, raids had been conducted on his offices and residences by the ED earlier this year and his bank accounts were frozen.
Reddy was a minister in the previous BS Yeddyurappa Bharatiya Janta Party(BJP) government.