An IAS officer accused in the Rs 4,000-crore IMA Ponzi scam in Karnataka was found dead at his residence on Tuesday night. He was arrested once in this case. Now CBI wanted to prosecute him. According to the police, BM Vijay Shankar, former deputy commissioner of Bengaluru urban district, was found dead at his residence in Jayanagar here. Vijay was accused of allegedly taking a bribe to hide the IMA Ponzi scheme.

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He was arrested in 2019 by the Special Investigation Team (SIT) formed by the coalition government led by HD Kumaraswamy. Later, when the BJP government came to power in the state, the case was handed over to the CBI. Agency sources told PTI that recently CBI had questioned the state government for prosecuting Shankar and two others. Permission was sought

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permission has also been sought from the state government to prosecute two senior IPS officers. Muhammad Mansoor Khan started the Ponzi scheme in 2013 promising high returns. The CBI investigation revealed that IMA Group entities headed by Khan deposited illegal amounts of over Rs 4,000 crore from innocent investors for dishonesty and fraud. This matter came in the eyes of the Income Tax Department and Reserve Bank. The Reserve Bank wrote to the state government to investigate the functioning of the IMA. After this, the government asked Vijay Shankar to give a report on the IMA. Vijay entrusted the task of preparing the report to Bangalore District Assistant Commissioner LC Nagaraj. It is alleged that Vijay and Nagraj took Rs 1.5 crore through a village accountant Manjunath to hide Khan's alleged wrongdoings. The case came to light when Khan fled to Dubai issuing a video message.

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