Minority leaders thank Karnataka CM for handing over IMA ponzi scam case to CBI

Days after the Karnataka government handed over the IMA Ponzi Scheme probe to the Central Bureau of Investigation (CBI), several minority leaders on Wednesday met Chief Minister BS Yediyurappa in his office and thanked him for transferring the case.

The state government had handed over the case, in which several politicians and senior government officials are accused, to the CBI on August 20.

I Monetary Advisory (IMA) had allegedly duped over 40,000 investors, who are mostly Muslim.

The prime accused and IMA Managing Director Mohammed Mansoor Khan, who had earlier fled the country and was later arrested and released, has accused several politicians and government officials of corruption.

Before the case was handed over to CBI, a special investigation team (SIT) constituted by the state government was probing the scam.

The scam came to light in June this year when over 4,000 investors trooped outside the IMA showroom in Bengaluru after an audio clip purportedly recorded by Khan went viral saying he wanted to end his life.