IMA scam: CBI files supplementary chargesheet

28 accused named including police officials

October 18, 2020 02:04 am | Updated 02:04 am IST - Bengaluru

The Central Bureau of Investigation has filed a supplementary chargesheet against 28 accused, including the managing director and CEO of Bengaluru-based investment firm I Monetary Advisory (IMA) which allegedly duped investors across the State to tune of around ₹4,000 crore.

Six police officers who are under investigation by the SIT for their alleged involvement in the scam have also been named in the CBI’s supplementary chargesheet. They are L.C. Nagaraj, E.B. Sridhara, Hemant Nimbalkar, Ajay Hilori, M. Ramesh, and P. Gowrishankar.

As per the supplementary chargesheet, Nagaraj, along with other police officials, had closed inquiries and verifications on complaints they had received from citizens against IMA. The accused did not take necessary action under the law and instead gave clean chit to the company. They allegedly recommended that the complaints be closed stating that IMA had not indulged in any illegal acts. The CBI had registered four cases in connection with the IMA scam, and has already filed several chargesheets.

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