E-Paper
ED raids properties of K’taka Congress MLA and former legislator in IMA case
The IMA scam pertains to ₹4,000 crore collected by IMA Group from over 100,000 gullible investors in the name of providing attractive returns on investment
Bengaluru: The Enforcement Directorate (ED) on Thursday conducted searches at properties associated with Congress MLA Zameer Ahmed Khan and former MLA Roshan Baig in connection with the I-Monetary Advisor (IMA) Ponzi scam case. The IMA scam pertains to ₹4,000 crore collected by IMA Group from over 100,000 gullible investors in the name of providing attractive returns on investment. The raids are underway in multiple locations in Bengaluru since Thursday morning.
According to officials in the know of the developments, the searches are being conducted by officers from New Delhi. So far, searches are underway at the two residences of Baig in Shivajinagar, and at the Chamarajpet residence of Khan, apart from the offices of National Travels, a firm he owns.
The Congress accused the ruling BJP of using the central agencies to target leaders of Opposition parties. Several of Khan’s supporters and Congress workers wearing black bands gathered near Khan’s residence where searches are on and shouted slogans accusing the ruling BJP of targeting party leaders and questioned as to why the central agencies were not probing saffron party leaders allegedly involved in corruption.
“The ED raid on former minister Zameer Ahmed Khan is politically motivated and an attempt by BJP to intimidate leaders from Opposition parties. I strongly condemn this undemocratic act of BJP to use institutions like ED, IT, etc,” senior Congress leader and Leader of Opposition in the State Assembly Siddaramaiah said.
Condemning the searches, state Congress chief D K Shivakumar said it is an attempt to harass Khan, who has the capacity to face it legally, as he accused the central agency of discrimination by targeting only Opposition leaders.
“About one-and-a-half to two years ago, the ED had issued him (Khan) notice and questioned him and he had told me that he had answered all the queries. When such is the situation, it is my feeling that raids were not required. Probably this is to harass him, but I’m confident that he will come out clean within the framework of law,” he said.
Questioning as to why central agencies were not probing allegations against BJP leaders, Shivakumar claimed things are being done to their (BJP leaders) own benefit. “Is everyone in the BJP clean? Are their businesses and transaction pure...there is a lot of discrimination (by central agencies),” he alleged.
Responding to the allegation, chief minister Basavaraj Bommai said that allegations are the usual slogan of Congress party leaders to cover their misdeeds. “I’m neither an ED nor IT officer to answer all this. Congress people have become experts on ED and IT, they have experience. Who are they (the Congress) ask why someone was raided? Whatever raids have taken place today (Thursday) will be scrutinised in the court. They conduct raids only based on relevant information,” he said.
On April 27, the Central Bureau of Investigation (CBI) had filed a supplementary charge sheet against former Karnataka minister Baig in connection with the IMA Ponzi scam case. Baig was the minister for urban development in the Congress-led state government between 2014 and 2018. The CBI named the then MD of IMA Group, Mohammed Mansoor Khan, the company, Baig’s company Daanish Publications, and others in the charge sheet.
“It was alleged that the accused former minister received several crores of rupees from IMA funds for election expenditure. It was further alleged that the accused was also utilising the said funds for day-to-day expenditure, including salaries of employees of his firm. It was also alleged that the accused has spent the funds for various social and cultural activities in his constituency to increase his popularity,” read a statement from CBI.
While Zameer Ahmed Khan was questioned by ED and other agencies regarding his property transaction with IMA founder Mohammed Mansoor Khan, he has not been charged by any agency till date.
IMA was an investment banking company run by Mohammed Mansoor Khan, who claimed it was a Sharia-compliant operation run on Islamic principles, which took huge deposits primarily from members of the Muslim community. When IMA stopped paying dividends in March 2019, investors lodged complaints with the police, and in June 2019, the Karnataka government set up an SIT to investigate the more than 51,500 complaints that had been filed by investors.
