Former Congress MLA Roshan Baig Arrested By CBI In Ponzi Scam Case

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    Former Congress MLA Roshan Baig Detained By CBI In Ponzi Fraud Case

    Former Congress MLA Roshan Baig Arrested By CBI In Ponzi Scam Case

    Roshan Baig was expelled from the Congress for “anti- celebration” activities (File)

    New Delhi:

    Roshan Baig, a former Congress minister in Karnataka, was on Sunday apprehended by the CBI in connection with the Rs 4,00 0-crore IMA ponzi scam. He was later produced in a court and sent out to 14- day judicial custody.

    Roshan Baig was summoned to the CBI office and based upon “material proof”, he was detained, the company stated.

    The rip-off linked to a ponzi plan run by the Bengaluru-headquartered IMA Group came to light in June 2019, when payments to investors in the company’s schemes quickly stopped. The creator, Mansoor Khan, later left abroad, leaving thousands of financiers in the stumble. He was arrested a month later on.

    While abroad, Mansoor Khan had actually launched an audio message implicating Roshan Baig of taking Rs 400 crore from him and not returning it.

    Roshan Baig had actually refuted the accusation, saying the declaration was “pointless, baseless and naughty.”

    In 2019, he was expelled from the Congress for criticising the state party management over its dismal performance in the basic election.

    The MLA had seen his name being dragged in the case as a fallout with his adversaries in the Congress, which was in power when the case was submitted.

    Newsbeep

    Roshan Baig was amongst the MLAs whose revolt caused the collapse of the JDS-Congress federal government. He was, nevertheless, not inducted into the BJP like others.

    In June this year, reacting to violence in Karnataka, Roshan Baig had declared that the Congress patronised “extreme radical” organisations for over a decade.

    The Karnataka federal government has actually begun a plan for the IMA ponzi scheme investors to recuperate their cash.

    ” We are welcoming claim applications from the depositors of IMA. Applications can be submitted for a month starting November25 Any claim application received after December 24 will not be appropriate. Applications can be submitted online, or individuals can submit their applications at Bangalore One or Karnataka One assistance centres,” Harsh Gupta, Unique Officer and Competent Authority in the IMA case, had stated.

    With inputs from PTI

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