Enforcement Directorate (ED) has arrested absconding accused Gudem Madhav Reddy on the basis of a non-bailable warrant (NBW) issued by the PMLA Special Court, Hyderabad.
His trial was ongoing in Supreme Court based on the prosecution complaint filed by the ED.
Gudem Madhav Reddy was produced before the Court which has remanded him to 14 days of judicial custody.
Earlier, an investigation by ED revealed that Gudem Madhav Reddy conspired with the other accused persons and allegedly created fabricated and fictitious documents by forging the signatures and thumb impression of legitimate owners of agricultural property and tried to sell the same.
Reddy, in the process, obtained Rs 85 lakhs illegally as the proceeds of the crime. He was not responding to the Court's summons and was avoiding appearance during the trial proceedings. Hence, the PMLA Court had issued a non-bailable warrant (NBW) to ED to arrest and produce him before the Court.
Now, Court will proceed with the framing of the charges, the official statement by the law enforcement agency informed.
Further probe in the matter is underway.
( With inputs from ANI )
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