Puneet Puneet, was 19 and a learner driver in 2008, when he hit and killed Dean Hofstee, 19, of Queensland, at Southbank.
Hofstee died at the scene, while Coker suffered head injuries and multiple fractures.
Puneet, who was drunk when he hit the men, was charged with culpable driving and negligently causing serious injury and was given bail under strict conditions including the surrender of his passport, the News.com.au reports.
Two months before he was due to appear in the Melbourne County Court, Puneet slipped out of the country using the passport of an Indian friend.
Victorian Assistant Commissioner Robert Hill said it was the first time a reward had been offered for a traffic matter.
“It has been almost four years since this tragedy occurred and investigators want to provide some resolution to this, particularly for the family of Dean Hofstee,” he said.
According to the report, Assistant Commissioner Hill said the reward was an important step in the quest for justice for the Queensland men.
“We believe that there are people both in Australia and India who can provide information in relation to Puneet's whereabouts,” he said.
“It is also our belief that he is still in India at this time and we are working closely with our AFP counterparts on this matter,” he added.