Roshan Baig becomes first politician to be arrested in Rs 4000 crore IMA ponzi scam
Former Congress Minister Roshan Baig -- the first politician to be arrested in connection to the Rs 4,000 crore IMA ponzi scam -- was sent to 14-days judicial custody after being produced before a special court by the CBI.
FollowThe Central Bureau of Investigation has arrested former Congress Minister Roshan Baig in connection with the I, Monetary Advisory scam case.
Baig -- the first politician to be arrested in connection to the Rs 4,000 crore IMA ponzi scam -- was sent to 14-days judicial custody after being produced before a special court by the CBI.
Baig, a disqualified MLA of the Congress, was summoned to the CBI office on Sunday morning and "based on material evidence", he was arrested.
IMA promoter Mohammed Mansoor Khan has been accused of duping over 30,000 investors of crores of rupees in a Ponzi scam, where he primarily promised to invest their money in the gold market.
Baig, the former MLA from Shivajinagar in Bengaluru, has been accused of allegedly helping prime accused Mohammed Mansoor Khan of fleeing the country when the scam broke out.
Baig had been suspended from the Congress party in June 2019 after criticizing leader of opposition Siddaramaiah as well as the then KPCC President Dinesh Gundu Rao. Baig had also attempted to join the BJP.
