Roshan Baig, a former Congress minister in Karnataka, was on Sunday arrested by the CBI in reference to the Rs 4,000-crore IMA ponzi rip-off. He was produced in a courtroom and despatched to 14-day judicial custody.
Roshan Baig was summoned to the CBI workplace and based mostly on “materials proof”, he was arrested, the company mentioned.
The rip-off linked to a ponzi scheme run by the Bengaluru-headquartered IMA Group got here to mild in June 2019, when funds to traders within the firm’s schemes abruptly stopped. The founder, Mansoor Khan, later fled overseas, leaving 1000’s of traders within the lurch. He was arrested a month later.
Whereas overseas, Mansoor Khan had launched an audio message accusing Roshan Baig of taking Rs 400 crore from him and never returning it.
Roshan Baig had refuted the allegation, saying the assertion was “frivolous, baseless and mischievous.”
In 2019, he was expelled from the Congress for criticising the get together’s state management over its dismal efficiency within the common election.
The MLA had seen his identify being dragged within the case as a fallout along with his adversaries within the Congress, which was in energy when the case was filed.
Roshan Baig was among the many MLAs whose revolt led to the collapse of the JDS-Congress authorities. He was, nevertheless, not inducted into the BJP like others.
In June this yr, reacting to violence in Karnataka, Roshan Baig had alleged that the Congress patronised “excessive radical” organisations for over a decade.
The Karnataka authorities, in the meantime, has began a scheme for the IMA investors to recover their money.
“We’re inviting declare functions from the depositors of IMA. Functions will be submitted for a month beginning November 25. Any declare software obtained after December 24 is not going to be acceptable. Functions will be submitted on-line, or individuals can submit their functions at Bangalore One or Karnataka One assist centres,” Harsh Gupta, Particular Officer and Competent Authority within the IMA case, had mentioned.
With inputs from PTI