Ponzi Scheme Case: Gali Janardhana Reddy's Residence Gets Raided

Team Latestly
Former Karnataka minister Gali Janardhan Reddy granted bail on a bond of Rs 1 lakh on Wednesday after he was arrested by Bengaluru Central Crime Branch.

The Central Crime Branch (CCB) raided the residence of absconding mining baron Gali Janardhana Reddy in Ballari. According to an India Today report, this is after teams were formed on Tuesday to track him because of his alleged involvement in a Ponzi scheme. Gali Janardhan Reddy, Wanted in Ambident Ponzi Scam Case, Goes 'Absconding': Crime Branch.

Also Read | Gali Janardhan Reddy, Wanted in Ambidant Ponzi Scam Case, Goes 'Absconding': Crime Branch

Reddy's advocate, Chandrashekar, as quoted in the report said, "They want to fix him in a false case, cause his arrest, parade him and injure his reputation". According to an ANI update, Chandrashekar has filed two petitions in Karnataka High Court seeking quashing of the Ambident Group alleged bribery case and to change two investigation officers.

On being asked, why is Reddy absconding, Chandrashekar said that he is not running away, but preparing to move to a higher court and speaking through his lawyer.

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