Bengaluru: The Central Bureau of Investigation (CBI) on Tuesday (April 27) filed a supplementary cost sheet against former Karnataka minister Roshan Baig in Rs 4000-crore I-Monetary Advisor (IMA) scam case in Bengaluru.
Along with him, others together with the MD of IMA Group Mansoor Khan have been named in the cost sheet.
It was alleged that Baig obtained a number of crores of rupees from IMA funds for election expenditure. It was additional alleged that the accused was additionally utilising the mentioned funds for day-to-day expenditure together with salaries of workers of his agency.
The accused allegedly spent the funds for numerous social and cultural actions in his constituency to extend his recognition.
The funds of IMA have been allegedly unauthorized deposits raised from harmless public to the tune of Rs 4000 crore(roughly) from round one lakh buyers. It has been alleged that cash was diverted to the former minister in order that the agency might proceed its unlawful actions.
It could also be recalled that CBI had registered 4 circumstances in the mentioned scam earlier and filed three cost sheets and as many supplementary cost sheets against 33 accused together with MD & CEO of mentioned Group, its administrators, a number of non-public individuals, Revenue and Police officers.
It was alleged that the mentioned Group had raised unauthoriaed deposits and cheated the general public by failing to repay the principal and in addition to the promised returns.
These funds have been allegedly diverted for buying properties, paying bribe quantities and so on. Several properties together with moveable and immovable have been recognized and hooked up beneath KPIDFE (Karnataka Protection of Interest of Depositors in Financial Establishments) Act, 2004.
