The IMA Ponzi Scheme rattled Karnataka as thousands of investors’ money was involved. Around 30,000 people were defrauded of Rs. 3,000 crore in Bengaluru and other parts of the state.
Around nine IPS officers of Karnataka have now come under the Enforcement Directorate’s scanner for their alleged complicity in the fraud. The ED now has the custody of mastermind Mohammed Mansoor Khan, who made disclosures on bribes made to police and politicians.
An IPS officer from Uttar Pradesh, stationed in Bengaluru, had allegedly gotten Khan to sponsor furnishings and interior decorated accessories sourced from China, for a house he was constructing in Delhi. A bill worth Rs.60 lakh was unearthed from the officer’s house. Khan has named a few high-profile politicians including a former Chief Minister, and a Deputy Chief Minister, as his beneficiaries. The IMA money was used extensively in the recent Lok Sabha and assembly polls in the state.