October 21, 2021

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CBI arrests former Karnataka minister Roshan Baig in IMA scam case


The CBI has arrested former Karnataka minister and ex-Congress MLA Roshan Baig in connection with the multi-crore IMA ponzi scam.
The Central Bureau of Investigation (CBI) on Saturday arrested former Congress minister and ex-MLA Roshan Baig in connection to the Rs 4,000 crore I-Monetary Advisory (IMA) ponzi scam.
Baig, a disqualified member of the Congress, has been sent to 14-day judicial custody after being questioned by the agency in connection with the scam case. He was summoned to the CBI office today “based on material evidence”, said the agency.
After questioning Baig, the CBI produced the former Shivaji Nagar MLA before a special court in Bengaluru today. The court gave an order to send him to judicial custody for 14 days. It may be noted that Baig is the first politician to be arrested in the scam case.
Earlier, the CBI has filed a supplementary chargesheet against government officials and police officers in the Rs 4,000 crore chit fund scam case.
The multi-crore Ponzi scheme was run by Karnataka-based IMA and its group entities allegedly duped lakhs of people promising higher returns using Islamic ways of investment.
The scam came to light in June last year when the IMA operator Mohammed Mansoor Khan fled the country accusing Roshan Baig and some government officers of cheating him.
Roshan Baig was not inducted into BJP, unlike 16 other disqualified legislators of Congress and JDS, whose revolt led to the collapse of the H D Kumarasamy led coalition government last year.
The seven-time MLA did not contest the byelections held in December last year while 14 others got BJP tickets after joining it.

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