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Karnataka’s mining baron Reddy arrested, jailed in Ponzi case (Lead)
Bengaluru, Nov 11 (IANS) Karnataka’s former BJP Minister and mining baron Gali Janardhana Reddy was arrested and jailed for allegedly shielding two accused persons in a multi-crore Ponzi scheme, a police officer said on Sunday.
“Based on the evidences and statements, Reddy has been arrested and charged with criminal conspiracy,” Additional Commissioner of Police (Crime) Alok Kumar told reporters here.
Later, Additional City Metropolitan Magistrate Jagdish sent Reddy to a 14-day judicial custody till November 24 after being produced at the Magistrate’s residence by the City Crime Branch (CCB) police.
The CCB police took Reddy to state-run Victoria Hospital in the city for a check-up before producing him at the Magistrate’s residence.
The CCB charged Reddy with shielding a man and his son, both accused in the Rs 954-crore Ponzi scheme, from being investigated by the Enforcement Directorate (ED) for alleged money laundering in violation of the Foreign Exchange Management Act (FEMA).
Reddy’s arrest comes a day after he drove to the CCB office on Saturday evening in response to its summons in the Ponzi case.
“Reddy has been lodged in the central jail. We will apply for bail in the same court on Monday for his release,” his lawyer Chandrashekar told reporters here.
Reddy was quizzed on Saturday by CCB officials led by Alok Kumar, Deputy Commissioner of Police S. Girish and Assistant Commissioner of Police Venkatesh Prasanna.
The CCB also arrested Reddy’s aide Ali Khan, who had allegedly struck a Rs 18-crore deal with the accused, Syed Ahmed Fareed and his son Syed Afaq Ahmed of Ambidant Marketing Ltd, a city-based company that ran the Ponzi scheme and duped about 15,000 investors by laundering their money from Dubai.
Reddy, 51, a former BJP Minister in the state (2008-11), however, denied his involvement in the case.
“I have no role in the Ponzi scheme. The police have no evidence to prove my involvement in it. They (police) are misleading the media and the public,” said Reddy in a video clip released to local news channels before his interrogation on Saturday.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.