Mohammed Mansoor Khan, founder of I Monetary Advisory (IMA) Group of companies, who was arrested on his arrival in New Delhi on Friday, is expected to be brought to the city by the Enforcement Directorate on Saturday.
The Special Investigation Team (SIT), which is probing the multi-crore investment scam, said the ED was expected to produce him in a Delhi court for transit remand late on Friday night or early Saturday morning. He will then be produced in the ED’s special court on Saturday.
The SIT is expected to take him into custody for questioning soon.
Khan had fled the city a day before a complaint had been filed against him, leaving behind an audio clip in which he threatened to commit suicide, apart from accusing politicians of borrowing money from him. As furore over the case increased and names of political leaders started doing the rounds, he released another video in which he offered to return to India and cooperate with the probe if he was provided police protection.
Baig submits documents
Meanwhile, R. Roshan Baig, a Congress MLA and former Minister whose name featured in the audio clip, appeared before the SIT in Bengaluru on Friday and submitted some documents.
He had been detained on Monday for questioning by the SIT at Kempegowda International Airport. Khan had accused Baig of borrowing ₹400 crore from IMA.
“We are going through the documents. If further questioning is required, he will be called again,” said an SIT officer.
Ponzi scam
The IMA is accused of running a Ponzi scheme that defrauded thousands of investors by promising returns of over 50%. More than 40,000 persons have filed complaints at the A.S. Convention Centre, which was converted into a temporary police station, since June 11.
The people arrested so far in connection with the case include Bengaluru Urban Deputy Commissioner B.M. Vijayshankar and Assistant Commissioner L.C. Nagaraj for allegedly taking bribes from Khan. Several others, including religious figures, have been arrested for taking huge sums of money or gifts from the company for persuading their contacts to invest in IMA’s schemes.
