IMA PONZY SCAM … IAS officer Vijay Shankar arrested for taking Rs 1.5cr bribe

NEWS IAS ARREST IMA

Vijay Shankar … corrupt creed 
BENGALURU: The deputy commissioner of Bengaluru urban district, BM Vijay Shankar is under arrest on a charge of taking a bribe of Rs 1.5crore from the founder of IMA, a city-based entity involved in a major chit fund scam. The founder Mohammed Mansoor Khan had recently revealed that he paid hefty bribes to several big-wigs including officials and politicians. Over 40,000 investors had allegedly been duped by the company and hundreds of crores of rupees siphoned off.
The IAS officer allegedly took the bribe to give a favourable, yet factually incorrect report about IMA to the state government after RBI sought the government’s intervention to set things right in the ponzy scam. A special investigation team (SIT) of Karnataka police arrested the IAS officer. It has so far arrested five persons in connection with the scam.
Meanwhile, the Enforcement Directorate had registered a money laundering case and attached assets of over Rs 200crore, including 20 immovable properties and bank deposits linked to the case.
Earlier, the SIT had arrested a Bangalore Development Authority (BDA) officer and a civic corporator. In another swoop, it arrested the assistant commissioner of Bengaluru north sub division LC Nagaraj and a village accountant Manjunath, who were accused of taking up to Rs four crore bribe from Mansoor Khan, in connection with issue of positive certificates to him in relation to his business activities.
The SIT had also zeroed in on Karnataka minority welfare minister BZ Zameer Ahmed Khan in relation to a property deal he effected with Mansoor Khan. –IHN-NN
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