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Monday, July 06, 2020

Bengaluru: Former Deputy Commissioner Vijay Shankar found dead

A Bengaluru Police SIT probing the multi-crore IMA Group Ponzi scheme fraud had arrested Shankar in July last year for his alleged involvement in the multi-crore scam. He was out on bail.

Written by Ralph Alex Arakal | Bengaluru | Updated: June 23, 2020 11:13:40 pm
Bengaluru Deputy Commissioner Vijay Shankar dead, vijay shankar found dead, karnataka ponzi scheme vijay shankar dead, karnataka ponzi scheme B M Vijay Shankar was found dead at his residence in Jayanagar (Source: Facebook/Vijay Bhaskar Ias)

Former Bengaluru Urban Deputy Commissioner and IAS Officer B M Vijay Shankar was found dead at his residence on Tuesday, police confirmed.

Shankar was staying at his house located near Ashoka Pillar in Jayanagar. He was out on bail since July 2019 when he was arrested for his alleged involvement in the multi-crore scam related to the I Monetary Advisory (IMA) ponzi scheme.

Bengaluru City Police Commissioner Bhaskar Rao told Indianexpress.com: “We have taken up BM Vijay Shankar’s death as a case of unnatural death. It is not yet time for us to jump to conclusions as an investigation is on.”

The police was informed about the incident around 8 pm. “A primary investigation has indicated that he was alone at the house when he might have ended his life. His body has been shifted to Victoria Hospital for post mortem. Other procedures will follow based on the report,” a senior police officer said.

A Bengaluru Police SIT probing the multi-crore IMA Group Ponzi scheme fraud had arrested Shankar in July last year for allegedly issuing a false report about the group in 2018, which allowed the company to dodge the seizure of its assets.

He was also accused of taking a bribe of Rs 1.5 crore from the IMA Group to provide a favourable report at a time when investor complaints against the company were on the rise and revenue officials had initiated proceedings to seize the company’s assets.

Further, after the case was handed over to the anti-corruption branch of the Central Bureau of Investigation (CBI), Shankar and then Revenue Officer L C Nagaraj were booked under the Prevention of Corruption Act on receiving sanctions from the Karnataka government.

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