The state high court has sanctioned conditional bail to Mohammed Mansoor Khan, main accused in the I Monetary Advisory (IMA) scam said to be running into hundreds of crores of rupees.
Bengaluru: The Karnataka High Court on Wednesday granted bail to IMA Jewels Founder and Managing Director Mansoor Khan, the prime accused in the ponzi scheme.
Mansoor has been in jail since July 2019 when he was first arrested by officials of the Enforcement Directorate.
According to reports, his bail conditions include submitting his passport, and furnishing a bond of Rs 5 lakh.
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The Central Bureau of Investigation which later took over the case had recently charged two Karnataka government officials in connection with the case.
The officials concerned are the Assistant Commissioner of Bengaluru North Taluk LC Nagaraj and village accountant Manjunath N.
Along with Mansoor Khan, the directors and others who benefited from the scheme were also arrested. In all, around 25 people were arrested in connection with the scam.