Ponzi scam: G Janardhana Reddy’s aide Mehfuz Ali says he offered gold to god
Rajiv Kalkod | TNN | Updated: Nov 14, 2018, 09:33 IST
File photo of jailed mining baron G Janardhana ReddyBENGALURU: The gold trail in the Rs 600-crore Ambidant investment scam took a curious turn on Tuesday with jailed mining baron G Janardhana Reddy’s assistant K Mehfuz Ali Khan reportedly admitting to have received Rs 18 crore from Ambidant’s managing director Syed Ahmed Fareed to buy gold offered to various places of worship during a family pilgrimage.
In his affidavit reportedly filed before the 1st Additional Chief Metropolitan Magistrate court, Khan said it was a personal transaction with Ambidant and he was “prepared to return the entire amount borrowed from Fareed”.
Khan claimed he went on a pilgrimage to various places of worships across the country and offered gold.
Khan’s statement may give respite to Reddy, who has come under the Central Crime Branch scanner in the Ambidant probe. Khan had started out as an employee in Janardhana Reddy’s Brahmani Steel Industries in 2007 before becoming his righthand man. Khan was earlier arrested with Reddy in the Obulapuram mining scam. When CCB summoned Reddy for questioning on Saturday, Khan had accompanied him.
Ex-min’s aide: No nexus with Ambidant company
In the affidavit, jailed mining baron G Janardhana Reddy’s assistant K Mehfuz Ali Khan said: “My family members and I have been facing adversities since 2011. We are great believers of the almighty and believe that the only way to be blessed by god is by charity. This led us to take oath in the name of the almighty that we would offer gold if we could be redeemed of adversities. My family members and I were able to get over the adversities one by one. To honour the commitment, I began to pool gold.”
In the backdrop, he met Fareed in January and reportedly told him of his effort to mobilise gold. “Fareed appreciated my intention and promised help in getting the gold. He helped in taking a loan of Rs 18 crore from his company, Ambidant, in March after making enquiries about me,” he stated.
Khan claimed he went on a pilgrimage to various places of worships and offered gold. “I have now learnt that there are cases against Ambidant as the company has cheated depositors by not returning them money. I do not have any nexus with the affairs of the company and it was a personal transaction. Though my transaction with Ambidant was genuine, I am now prepared to return the entire amount,” he said.
In his affidavit reportedly filed before the 1st Additional Chief Metropolitan Magistrate court, Khan said it was a personal transaction with Ambidant and he was “prepared to return the entire amount borrowed from Fareed”.
Khan claimed he went on a pilgrimage to various places of worships across the country and offered gold.
Khan’s statement may give respite to Reddy, who has come under the Central Crime Branch scanner in the Ambidant probe. Khan had started out as an employee in Janardhana Reddy’s Brahmani Steel Industries in 2007 before becoming his righthand man. Khan was earlier arrested with Reddy in the Obulapuram mining scam. When CCB summoned Reddy for questioning on Saturday, Khan had accompanied him.
Ex-min’s aide: No nexus with Ambidant company
In the affidavit, jailed mining baron G Janardhana Reddy’s assistant K Mehfuz Ali Khan said: “My family members and I have been facing adversities since 2011. We are great believers of the almighty and believe that the only way to be blessed by god is by charity. This led us to take oath in the name of the almighty that we would offer gold if we could be redeemed of adversities. My family members and I were able to get over the adversities one by one. To honour the commitment, I began to pool gold.”
In the backdrop, he met Fareed in January and reportedly told him of his effort to mobilise gold. “Fareed appreciated my intention and promised help in getting the gold. He helped in taking a loan of Rs 18 crore from his company, Ambidant, in March after making enquiries about me,” he stated.
Khan claimed he went on a pilgrimage to various places of worships and offered gold. “I have now learnt that there are cases against Ambidant as the company has cheated depositors by not returning them money. I do not have any nexus with the affairs of the company and it was a personal transaction. Though my transaction with Ambidant was genuine, I am now prepared to return the entire amount,” he said.
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