Karnataka anti-corruption unit raids Congress MLA Zameer Khan’s properties in Bengaluru

Haripriya Sureban | Updated on: Jul 05, 2022

In August last year, Khan and former minister R Roshan Baig, were raided by the ED in connection with the Rs 4,000-crore IMA ponzi scheme

Bengaluru, July 5 

The Anti-Corruption Bureau (ACB) in Karnataka has raided five locations of the Congress Member of Legislative Assembly (MLA), Zameer Ahmed Khan, in a disproportionate assets case, following a report by the Enforcement Directorate (ED). 

According to reports, the ACB officials said the raids were carried out at Ahmed’s residence near the Cantonment Railway station, a flat in Silver Oak Apartment, a guest house at Sadashivanagar, and two business units at G K Associates office in Banashankari and National Travels Office at Kalasipalya in Bengaluru. 

While multiple teams of the ACB arrived at the five locations, Khan’s supporters gathered outside his residence and staged a protest, accusing the government of targeting Khan. 

Khan, a four-time MLA, was the Minister of Food and Civil Supplies in the H D Kumaraswamy government, for more than a year from June 2018.

In August last year, Khan was raided by the ED, along with former minister R Roshan Baig, in connection with the Rs 4,000-crore IMA ponzi scheme. Both Khan and Baig were linked to the scam after Mohammed Mansoor Khan, the prime accused in the scam, mentioned their names in his video messages, posted before he was arrested by the ED officials in New Delhi in July 2019. Mansoor Khan had alleged that both the ministers conspired with him to pull off the massive scam.

I Monetary Advisory (IMA), a Bengaluru-headquartered investment company formed by Mansoor Khan, floated a ponzi scheme that promised returns of between 36 and 64 per cent on investments. The company promoted its investment schemes in adherence to Islamic Sharia law. Mansoor Khan is accused of siphoning Rs 4,000 crore of funds and defrauding more than 45,000 people across Karnataka. The company was run under the umbrella of the IMA group, which has diversified into several businesses, including jewellery, real estate, bullion trading, groceries, pharmacy, hospitals and publishing. 

Published on July 05, 2022
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