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ED raids ex-Karnataka minister Roshan Baig, Cong MLA in money laundering case

ED raids ex-Karnataka minister Roshan Baig, Cong MLA in cash laundering case | Information

New Delhi/Bengaluru: The Enforcement Directorate (ED) on Thursday performed searches towards former Karnataka minister R Roshan Baig and a Congress MLA in reference to a cash laundering investigation into the alleged Rs 4,000 IMA ponzi rip-off, officers mentioned.
They mentioned a number of premises of Baig and his associates are being raided by the company underneath the provisions of the Prevention of Cash Laundering Act (PMLA).
Two of his premises in Shivajinagar of Bengaluru and that of Congress MLA from Chamrajpet in Bengaluru, B Z Zameer Ahmed Khan, and a journey firm linked to him are being searched since 6 AM.
Safety personnel have been seen at Zameer Khan’s new bungalow close to Cantonment Railway station in Bengaluru the place ED officers are conducting searches.
Different properties being raided embody his flats and companies together with the Nationwide Travels places of work in Bengaluru, official sources added.
A four-time MLA, Zameer Khan was earlier with the JD(S) and is now with the Congress.
Searches have been additionally performed in some areas in Mumbai.
The Congress MLA is acknowledged to have had a purported property transaction with then MD of IMA Group Mansoor Khan. This transaction was declared by Zameer Ahmed Khan in his election affidavit.
Baig, earlier arrested by the Central Bureau of Investigation (CBI) on this case, was suspended from the Congress after the alleged rip-off got here to mild. Baig is out on bail at current.
The Enforcement Directorate motion is linked to its probe within the 4000-crore I-Financial Advisor (IMA) alleged ponzi rip-off case, taking cognisance of a CBI FIR and a cost sheet.
The CBI, in April, had filed a cost sheet earlier than a particular CBI court docket in Bengaluru and had named Baig, Mansoor Khan, IMA Group and Baig’s firm Daanish Publications and others.
“It was alleged that the accused former minister acquired a number of crores of rupees from IMA funds for election expenditure.
“It was additional alleged that the accused was additionally utilising the mentioned funds for day-to-day expenditure, together with salaries of workers of his agency. It was additionally alleged that the accused has spent the funds for numerous social and cultural actions in his constituency to extend his reputation,” a CBI spokesperson had mentioned in an announcement publish the submitting of the cost sheet.
The alleged IMA rip-off pertains to over Rs 4,000 crore collected by IMA Group from over a lakh gullible buyers within the title of offering engaging returns on funding following Islamic methods.
The CBI has alleged that the cash was diverted to Baig, a minister within the erstwhile Congress authorities, led by Siddaramaiah, in order that the IMA Group may proceed its unlawful actions, CBI officers had mentioned.
The CBI had registered 4 instances in reference to the rip-off and has filed a number of cost sheets towards 33 accused, together with Khan, firm administrators, a number of income and police officers.
“It was alleged that the mentioned Group had raised unauthorised deposits and cheated the general public by failing to repay the principal and in addition to the promised returns.
“These funds have been allegedly diverted for buying properties, paying bribe quantities, and so on. A number of properties, together with moveable and immovable, have been recognized and connected underneath KPIDFE (Karnataka Safety of Curiosity of Depositors in Monetary Institutions) Act, 2004 by the competent authority,” the CBI had mentioned.

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