IMA Ponzi scheme: CBI takes over probe in bribery case

Team Udayavani, Sep 5, 2019, 11:06 AM IST

Bengaluru: The CBI has taken over the investigation in a case of an alleged bribe of Rs five crore received by an executive engineer of the Bangalore Development Authority (BDA) from the IMA group of companies, which is facing a Ponzi scheme probe in Karnataka, officials said on Wednesday.

The central agency has booked PD Kumar, who was an executive engineer in the BDA, they added.

It is alleged that Kumar received a bribe of Rs five crore from the IMA group, which had allegedly duped investors by offering them high returns on their investments.

The agency has already booked Mansoor Khan, the managing director of the company, besides 24 other individuals and four sister concerns of the IMA group.

Khan has allegedly duped over a lakh investor, mostly Muslims.

Many touts, as well as some religious preachers, were also among those who lured people to invest in the IMA group, the officials said.

The case came to light when Khan fled to Dubai, leaving behind a video message, in which he said he was committing suicide due to “corruption in the state and central governments”.

Khan was arrested by the Enforcement Directorate on July 21 on his arrival in New Delhi and is currently in judicial custody.

In his statement, Khan had alleged that Kumar had received a bribe from him. The case was being probed by a Special Investigation Team (SIT) of the Karnataka police, which had arrested Kumar.

After the Karnataka government handed over the probe into the matters related to the IMA group of companies to the CBI, the central agency re-registered the SIT FIR in accordance with the procedure.