Karnataka/Uttar Pradesh: The Central Bureau of Investigation (CBI) on Friday conducted searches at 15 locations in Karnataka and Uttar Pradesh in connection with I Monetary Advisory (IMA) Ponzi scam.
In Karnataka, the raids were conducted in 11 locations in Bengaluru, 1 in Mandya district, 1 in Ramanagara and 1 in Belgaum. In Uttar Pradesh, raids were conducted in Meerut.
Searches were conducted by the CBI at the residences of the then Inspector General (IG) Economic Offences Wing CID Hemant M Nimbalkar, the then deputy SP CID EB Sridhara, the then DCP East, Bengaluru, Ajay Hilory and others.
In August, Karnataka government had transferred the multi-crore IMA ponzi scam case to the CBI, in which several politicians and senior government officials are accused.
The Special Investigation Team (SIT) chief S Girish had said that the case was being transferred to the CBI because investigation had to be carried out in different states.An SIT was investigating the multi-crore IMA Jewels case, where the firm had allegedly cheated a large number of investors after promising them impressive returns on their deposits.The SIT has already arrested several government officials and questioned others including politicians in the matter.
The prime accused and Managing Director of IMA Mohammed Mansoor Khan, who had fled the country after several complaints were registered against him in connection with the scam, has also been arrested.The state government had constituted an SIT to probe the scam when it first came to light in June earlier this year when more than 4,000 investors trooped outside the showroom after an audio clip purportedly recorded by Khan went viral.