Karnataka govt transfers IMA ponzi case to CBI
Bengaluru, Aug 20: Karnataka governmed has decided to multi-crore IMA Ponzi scam to the Central Bureau of Investigation (CBI).
The ED had attached assets worth Rs 209 crore in its money laundering probe into a ponzi scam involving Karnataka's IMA group, in which thousands of depositors have allegedly been duped.
The agency recently filed a criminal case of money laundering against the IMA group of companies and its absconding main promoter and Managing Director Mohammed Mansoor Khan after reports emerged that he has gone underground fearing investments worth crores of about 40,000 investors have tanked.
The scam had come to light after a video of his purported statement claiming that the investments have been lost surfaced
The Karnataka government has constituted a special investigation team (SIT) of the police to probe the case.
The SIT was formed by the earlier Karnataka government led by HD Kumaraswamy after several high profile nincluding politcianas and bureaucrats started appearing in the case.
The prime accused in the case, Mohammed Mansoor Khan, has been in the SIT custody after his arrest upon his arrival in India from Dubai on July 19.