Bengaluru: The Special Investigation Team (SIT) on Wednesday seized 5880 rods of fake gold weighing 303 kg. The SIT is investigating the multi-crore IMA Group Ponzi scam. The bogus gold was hidden under the water in a swimming pool on the sixth floor of a building here by the group's owner, Mohammed Mansoor Khan. According to the SIT, Mansoor used to attract people to invest in his company by showing the same fake gold.

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Mansoor had hidden the fake gold in a swimming pool to use later in another fraud when he fled to Dubai after his Ponzi scheme was busted. Mansoor was arrested at The Delhi airport last month on his way back from Dubai by a team of Enforcement Directorate (ED). The ED had registered a case of money laundering against the IMA Group and Mansoor on the basis of the report, which had revealed that Mansoor had gone underground and nearly 40,000 investors lost billions of rupees.

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ED has so far attached assets and bank accounts worth about Rs 209 crore, including 20 immovable properties, in the case. The SIT has also detained 25 persons so far in the probe into the case. The arrested include 12 IMA directors, a councillor, a councillor's husband as well as a former deputy commissioner of Bengaluru Urban District and Assistant Commissioner of Northern Sub-Division. The scam also includes the name of expelled Congress MLA Roshan Beg.

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