Janardhana Reddy granted bail
Bellary mining baron and former Karnataka minister G. Janardhana Reddy was granted bail by a court on Wednesday in an alleged Ponzi scheme fraud case.
A magistrate’s court here had remanded Reddy to judicial custody till November 24 on Sunday.
“It is allowed,” sixth additional chief metropolitan magistrate V. Jagadeesh said in his order on the bail plea of Reddy, who was arrested by the central crime branch of the city police Sunday.
Reddy was arrested after he appeared before the crime branch, ending his elusive run for three days.
The police had been on the lookout for Reddy, who was declared absconding by the police last week in connection with a transaction worth crores of rupees allegedly linked to a Ponzi scheme involving hundreds of crores of rupees.
Stepping out of the Parappanaagrahara central jail, Reddy lashed out at chief minister H.D. Kumaraswamy for his plight and alleged that police officers were under pressure to put him in prison although he was in no way involved in the case.