New Delhi: The CBI has arrested former Karnataka minister Roshan Baig on Sunday night in the Rs 4000-crore I-Monetary Advisory (IMA) Ponzi scam case. Baig left the Congress last year and joined the BJP. Roshan Baig is alleged that he has cheated several crores of rupees in this. According to sources, Baig was asked to appear in the CBI office on Sunday morning and "he was arrested based on concrete evidence". Roshan Baig was the Congress MLA, who was disqualified.
MLA Baig was produced before the court before Shivaji Nagar, from where he was sent to judicial custody for 14 days. Thousands of people were duped into the Ponzi scheme of crores of rupees run by the Karnataka-based IMA and its group companies, allegedly promising high returns using Islamic methods of investment.
Over 40 thousand people put their savings in the Ponzi scheme run by the IMA group of arrested businessman Mohammad Mansoor Khan. This amount is about 4000 crores rupees. The name of Roshan Baig came to light about 18 months after the scandal. Mansoor Khan escaped from the country and was brought back to India from Dubai in July 2019 by the Bangalore Crime Branch.
Also Read:
Janjaati Gaurav Diwas celebrated
UMC chalks out Grand Hotel to be developed as a heritage property
