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Business News/ News / India/  Bengaluru ponzi scam prime accused arrested
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Bengaluru ponzi scam prime accused arrested

Khan, who is accused of perpetrating financial fraud worth crores in Bengaluru, was absconding for a month
  • Khan was arrested from Delhi airport where arrived from Dubai
  • The development is expected to ease the ongoing investigation and the effort to return the money of thousands of investors.Premium
    The development is expected to ease the ongoing investigation and the effort to return the money of thousands of investors.

    Mohammed Mansoor Khan, the main accused in the multi-crore IMA Jewels scam, was located by the special investigation team (SIT) in Dubai who persuaded him to return to Delhi where he is being questioned by the Enforcement Directorate (ED).

    "SIT officers are in Delhi to secure and arrest the accused," senior police officials aware of the developments said on Friday.

    Over 40,000 people have filed complaints against Khan’s IMA Group of companies, which promised returns as high as 36%. The scam, in which thousands of small investors were allegedly duped, unravelled last month after scores of investors started to pour into Khan’s Bengaluru office suspecting foul play, which saw him flee the country.

    Khan has since released one audio and two video clips in which he has claimed to be a victim of a conspiracy hatched by some powerful politicians and others. In a video, released on 23 June, Khan said his life was under threat and the case against him should be handed to the Central Bureau of Investigation (CBI) as there were several prominent and powerful people involved in the scam.

    In the latest video released on Monday, Khan said he would return to India within 24 hours with a list, which along with help from judiciary, would enable the police to recover a significant portion of money that can be returned to investors.

    The SIT is probing senior Congress leader R. Roshan Baig and B.Z. Zameer Ahmed Khan among others for their alleged involvement in the scam.

    The team earlier arrested B.M. Vijay Shankar, deputy commissioner and district magistrate, Bengaluru Urban, for allegedly taking a Rs1.5 crore bribe from Khan.

    Baig’s arrest from the Bengaluru international airport, when he was about to leave on a private chartered aircraft, took a political turn as chief minister H.D. Kumaraswamy said the former was being escorted by people associated with the Bharatiya Janata Party (BJP), adding to the current resignation drama that has threatened to bring down the Congress-Janata Dal (Secular) or JD(S) coalition government in Karnataka.

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    Published: 19 Jul 2019, 11:27 AM IST
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