CBI arrests former Congress minister Roshan Baig in IMA scam case

The CBI has arrested former Congress minister and ex-MLA Roshan Baig in connection with a multi-crore chit fund scam.

Roshan Baig. (Photo: Facebook/R Roshan Baig)

The Central Bureau of Investigation (CBI) on Saturday arrested former Congress minister and ex-MLA Roshan Baig in connection to the Rs 4,000 crore I-Monetary Advisory (IMA) ponzi scam.

Baig, a disqualified member of the Congress, has been sent to 14-day judicial custody after being questioned by the agency in connection with the scam case. He was summoned to the CBI office today “based on material evidence”, said the agency.

After questioning Baig, the CBI produced the former Shivaji Nagar MLA before a special court in Bengaluru today. The court gave an order to send him to judicial custody for 14 days. It may be noted that Baig is the first politician to be arrested in the scam case.

Earlier, the CBI has filed a supplementary chargesheet against government officials and police officers in the Rs 4,00o crore chit fund scam case.

The multi-crore ponzi scheme was run by Karnataka-based IMA and its group entities allegedly duped lakhs of people promising higher returns using Islamic ways of investment.

Also Read | Senior Karnataka government officials booked by CBI for taking bribes from IMA

Also Read | Karnataka cops accused of taking bribe to allow IMA Ponzi scam raided by CBI

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