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Ballari mining baron Janardhan Reddy arrested in Bengaluru in connection with ponzi scheme

Janardhan Reddy. Photograph:( Zee News Network )

WION Web Team New Delhi, Delhi, India Nov 11, 2018, 02.07 PM (IST)

Ballari mining baron and former BJP minister G Janardhan Reddy was arrested Sunday by the Bengaluru Central Crime Branch. 

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ANI added that the Central Crime Branch had also arrested Ali Khan, a close aide of Reddy's. 

Reddy was arrested in connection with the alleged Ambident ponzi scheme. 

Syed Ahmed Fareed, the owner of Ambident, had claimed he had paid Rs 18 crore to be let off when the ponzi scheme came to light. Fareed said Reddy, who had been a minister in the then BS Yeddyurappa government, had asked for the money during a meeting at a hotel. 

Fareed said the money had been paid; that it had been routed to Reddy's aide. 

Reddy and two brothers wield enormous influence in Ballari. 

Janardhan Reddy himself had been disowned by Amit Shah during campaigning for the assembly elections held in the state in May this year. 

But his two brother — Gali Karunakara Reddy and Gali Somashekhara Reddy — were given tickets by the party.

Last week, the BJP lost the Lok Sabha byelections from Ballari.