BENGALURU: The Central Crime Branch (CCB) police have submitted a 4,800-page charge sheet against nine persons, including former BJP minister and mining baron Gali Janardhana Reddy, in connection with the Ambidant Marketing Pvt Ltd cheating case. The authorities have attached properties worth Rs 60 crore belonging to the accused in the case.
The chargesheet was submitted to the Special Court to hear Karnataka Protection of Interest of Depositors in Financial Establishments (KPID) Act cases, on Monday. It is mentioned in the charge sheet that the investigations had revealed that the firm had cheated 10,564 people, who invested around Rs 120 crore.
Syed Farid Ahmed, the proprietor of the firm, his son Syed Afaq Ahmed, Irfan Mirza, Vijay Tata, Gali Janardhana Reddy, his close aide Mehfuz Ali Khan, Ballari Ramesh, Inayath-ul-Wahab and Ashraf Ali have been named accused in the chargesheet.
“KPID Act was invoked in the case in the interest of depositors and movable and immovable properties registered in the name of accused persons were identified. Under the provisions of the Act, Assistant Commissioner of Bengaluru North Sub Division Nagaraju was submitted a report about the properties to be attached. Accordingly, properties worth Rs 60 crore belonging to the accused were attached. They will be auctioned and the money will be distributed to the depositors through the court in the later stages,” the police said.
So far, 4,800 depositors have approached the CCB and have registered their names. They have also provided documents related to a total investment of Rs 82.10 crore, which the firm has not returned to them.