Updated: April 27, 2021 7:20:58 pm
The Central Bureau of Investigation (CBI) Tuesday said it has filed a supplementary chargesheet naming former Karnataka minister R Roshan Baig and I-Monetary Advisory (IMA) founder and Managing Director Mohammed Mansoor Khan, among others, in the alleged Rs 4,000 crore ponzi scam.
According to CBI sleuths, the chargesheet was filed before the Special Judge for CBI cases in Bengaluru. “The former minister, his firm, and others, including the MD of a group of entities based at Bangalore and its other directors, have been named in the chargesheet in the case, in which investigation is ongoing,” sources in the CBI told Indianexpress.com.
Officers said that Baig had allegedly received several crores of rupees from IMA funds for election expenditure. “The funds from unauthorised deposits were allegedly raised from innocent public to the tune of Rs 4000 crore (approx) from around one lakh investors. This was then diverted to the minister, who spent funds from it on various social and cultural activities in his constituency to increase his popularity,” the chargesheet said.
Baig is a seven-time MLA who has represented Bengaluru’s Shivajinagar constituency as a Congress legislator several times. He was among the MLAs who switched sides to the BJP in July 2019 , leading to the fall of the Congress-JD(S) coalition government in Karnataka. Baig, however, was denied BJP ticket for the bypolls held for the Shivajinagar constituency in December 2019, on account of his links to the IMA scam.
In November 2020, the CBI had arrested Baig from his residence in Bengaluru as part of the investigation. He was then sent to judicial custody for 14 days.
To date, the CBI has registered four cases, and filed three chargesheets and three supplementary chargesheets against 33 people in the case. These include Khan, several private persons, and officials from the revenue and police departments.
“It was alleged that the said Group had raised unauthorised deposits and cheated the public by failing to repay the principal and as well as the promised returns. These funds were allegedly diverted for acquiring properties, paying bribe amounts, etc. Several properties including moveable and immovable were identified and attached under KPIDFE Act, 2004 by the Competent Authority,” the CBI said.
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