Karnataka

IMA scam: CBI raids Roshan Baig’s residence, seizes documents

R. Roshan Baig. File.  

A team of Central Bureau of Investigation officials on Monday raided the residence of former MLA R. Roshan Baig near Coles Park in Pulikeshinagar and seized documents related to his properties and business ventures. This comes a day after Mr. Baig was arrested by the CBI for his alleged involvement in the ₹4,000 crore I-Monetary Advisory (IMA) investment scam.

The raid began around 7 a.m. and search operations went on for eight hours. “Property documents and businesses ventures of Mr. Baig’s son R. Ruman Baig have also been seized. The police questioned his family members and recovered their mobile phones for analysis,” said a senior official.

The prime accused in the case, Mohammed Mansoor Khan, managing director and chief executive officer of the IMA Group of companies, has alleged that he had given Mr. Baig ₹400 crore to promote his venture and encourage people to invest in IMA using his political clout and media business. “Mr. Baig was one of IMA’s more prominent proponents and he did this for monetary gain,” the official added.

CBI officials claimed to have found evidence of monetary transactions between Mr. Baig and Mr. Khan made through shell companies. “ We are also questioning Mr. Baig to ascertain who tipped Mr. Khan when the Karnataka Special Investigation Team started the probe,” said a source.

A special court on Monday extended the CBI custody of Mr. Khan till November 27. The CBI had taken custody of Mr. Khan on Friday for four days but sought extension to continue investigation.

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Printable version | Jan 25, 2021 2:12:07 PM | https://www.thehindu.com/news/national/karnataka/cbi-searches-former-congress-minister-roshan-baigs-residence-in-bengaluru/article33160892.ece

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