Bengaluru: The Special Investigation Team (SIT) probing the multi-crore IMA ponzi scam on Wednesday (August 7), seized 303 kg of fake gold bars hidden under the swimming pool on the sixth floor of a building belonging to group owner Mohammed Mansoor Khan in Bengaluru.

According to an official communique from the SIT, the ponzi scheme operator Khan used to show the massive quantity of gold to the people and lure them into investing in his company.

Before fleeing the country, Khan had hidden the fake gold bars. The SIT raided the place and seized the 5,880 gold bars weighing 303 kg, it added.

Khan, the owner of IMA jewels, was arrested in July in New Delhi by the Enforcement Directorate (ED).

Also read: Mansoor Khan in SIT custody till August 16

Khan, who had fled to Dubai, flew back to India and was arrested upon landing in Delhi.

The ED had attached assets worth Rs 209 crore, including 20 immovable properties and bank deposits, in connection with the case.

The ED had filed the money laundering case against the IMA group of companies and Mohammed Mansoor Khan after reports emerged that he went underground fearing investments worth crores of about 40,000 investors have tanked.

So far, the SIT has arrested about 25 people in which 12 people are the directors of the IMA, a corporator and her husband, former deputy commissioner of Bengaluru urban district and assistant commissioner of Bengaluru North sub-division.

The SIT also wanted to question Karnataka's disqualified Congress MLA R Roshan Baig, but he did not appear before it seeking time.