BJP leader and mining mogul Janardhan Reddy is under police scrutiny for his involvement in an investment fraud with Syed Ahmed Fareed. It has been alleged that the leader played an active role in “bailing out” Fareed in an Enforcement Directorate case of Rs 600 crore investment fraud. The police raided Reddy’s apartment and seized a few documents from his home. As per the police, Reddy, along with his assistant Ali Khan, received gold worth Rs 18 crore from Fareed to negotiate with the officials of Enforcement Directorate. The minister and his aide, who are presently absconding, have been summoned for questioning.
Fareed ran a company named Ambident Marketing, which duped thousands of investors starting in 2016. The police have arrested Fareed and two others.
