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IMA scam: BDA engineer arrested for allegedly taking Rs 4 crore bribe

IMA founder Mansoor Khan had mentioned about "BDA Kumar" in his voice message released on June 9 and a video uploaded on YouTube on June 23.

Written by Express Web Desk | Bengaluru | Updated: July 2, 2019 1:59:39 pm
bangalore, bangalore news, bengaluru news, today news, latest news live news, Bengaluru news today, bangalore weather, bangalore weather forecast, bangalore weather today, bangalore temperature, bangalore temperature today, Thousands of investors gathered in front of I Monetary Advisory (IMA) jewels at Commercial Street Express File Photo

An executive engineer with the Bangalore Development Authority (BDA) was arrested on Monday for his alleged links to the I Monetary Advisory (IMA) Group investment scam. The arrest was made after the Special Investigation Team (SIT) probing the case raided his flat in Jayanagar Fourth Block and recovered documents pertaining to the case.

SIT officials confirmed to that the raid took place after allegations surfaced against Nayak for taking Rs 4 crore from absconding IMA chief Mohammed Mansoor Khan while availing a loan of Rs 200 crore.

BDA-Engineer-arrested-IMA-scam BDA Executive Engineer PD Kumar Nayak was arrested Monday by the SIT probing IMA case

The engineer, 52-year-old PD Kumar Nayak, was arrested Monday afternoon after which he was questioned by the SIT. According to the police, Nayak was arrested and booked under the Karnataka Protection of Interests of Depositors in Financial Establishments (KPID) Act, 2004.

Also read: ED summons Karnataka minister Zameer Ahmed Khan on July 5

It can be recalled that Mansoor Khan had mentioned about “BDA Kumar” in his audio message released on June 9 and a video uploaded on YouTube on June 23.

Also read: Absconding IMA Jewels scam accused Mansoor Khan offers to surrender, claims conspiracy in video

SIT chief Ravikanthe Gowda said the team has seized several documents that prove Nayak received Rs 4 crore from Khan. “Mansoor Khan was looking for a Rs 600 crore bailout and was harnessing his contacts for a loan. He was desperately looking for a loan of a few hundred crores of rupees, to overcome a financial crisis,” Gowda said.

Also read: BBMP councillor arrested, SIT says he knows promoter Mansoor’s hideout

Nayak’s arrest is the second made by the SIT in consecutive days after the arrest of nominated BBMP councillor Syed Mujahid on Sunday.

Khan has been accused of cheating over 40,000 investors of Rs 2,000 crore. Thousands of complaints have been registered at the Commercial Street Police Station since his audio clip with a suicide threat went viral on June 9.

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