The Central Bureau of Investigation (CBI), which is probing the I Monetary Advisory (IMA) investment scam, on Wednesday took R. Roshan Baig, former MLA, into custody for three days, till November 28.
The prime accused in the case, Mohammed Mansoor Khan, managing director and chief executive officer of the IMA Group of companies, had 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. “We already have Mr. Khan in custody. We are verifying information with Mr. Baig and questioning him about the documents recovered from his house during the raid,” said a CBI official.
Investigations so far have revealed that money exchanged hands on many occasions. “Mr. Khan paid Mr. Baig on many instances for his personal use and also to run a newspaper, which he reportedly used to promote IMA,” he added.
Mr. Khan also allegedly confessed that he bore the election expenses that Mr. Baig incurred during the Assembly and Lok Sabha elections. It was based on this information that the CBI recently raided Mr. Baig’s house and recovered property documents pertaining to the case. “We also questioned his wife who is the director of an Urdu daily owned by the family,” said a police official.
According to sources, Mr. Khan told the CBI that he had paid money to many bureaucrats and politicians on the instruction of Mr. Baig. “We are probing in detail, what we suspect is a bigger conspiracy involving Mr. Baig and others,” the official added.
