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Will appear before police in ponzi case: Reddy

Press Trust of India  |  Bengaluru 

Three days after remaining elusive, mining baron G said on Saturday he would appear before the police in connection with an alleged ponzi scam, maintaining that he had not done anything wrong.

In a video message from an unknown location, Reddy said he was not absconding and was very much in the city, asserting that there was no need for him to flee. He also rubbished that he had fled to or some other city.

"I have not committed anything wrong. The police do not have not a single document to prove that I am wrong. They are misleading the media," he claimed in his message telecast by TV channels.

Reddy, who was a in the erstwhile government in Karnataka, said he never panicked as his name neither figured in the first information (FIR) report, nor was any notice served to him.

"Now that the notice has been issued by the police, I have decided to appear before the Central Crime Branch today itself though the notice says I should appear on Sunday," Reddy said.

"I decided to make this video to let people know the truth. I have faith in the police and believe that they would not succumb to any political pressure," he added.

The had launched a hunt for him since Wednesday in connection with a money transaction worth crores of rupees, allegedly linked to a ponzi scheme.

The CCB was also on the lookout for Reddy's close aide, Ali Khan, who had allegedly struck a Rs 20-crore deal with of -- a company accused of involvement in the ponzi scheme -- to bail him out from the investigation.

T Suneel Kumar had said on Wednesday that Reddy was absconding and the police were looking for him to question him in the case.

Reddy's lawyer, C H Hanumantharaya, who earlier moved a city civil court on Friday seeking anticipatory bail, had told reporters that the minor baron would take a call on Saturday whether to appear before the CCB or not.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, November 10 2018. 16:00 IST