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Bengaluru:
A particular CBI court docket in Bengaluru on Saturday granted bail to former Karnataka Minister Roshan Baig within the multi-crore I Monetary Advisory (IMA) funding rip-off.
CBI arrested Roshan Baig on November 22 and had carried out raids at his residence the very subsequent day.
The disqualified Congress MLA from Shivajinagar within the metropolis, after the arrest, was produced earlier than the court docket, which remanded him in judicial custody for 14 days.
Roshan Baig has been requested by the court docket to cooperate with the investigation and report earlier than CBI officers on the second and fourth Monday of each month, official sources mentioned.
He additionally has been requested to give up his passport, inform the court docket if he alters handle and to not threaten witnesses, they mentioned.
Roshan Baig’s advocate, whereas citing his well being situation, knowledgeable the court docket that his shopper has cooperated with the investigation and all of the accused within the case have been granted bail, barring the MD and CEO of the IMA Group of firms.
The multi-crore ponzi scheme run by Karnataka-based IMA and its group entities allegedly duped over a lakh of individuals to the tune of Rs 4,000 crore promising larger returns.
The rip-off got here to mild in June final 12 months when the IMA operator Mohammed Mansoor Khan fled the nation accusing Roshan Baig and a few authorities officers of dishonest him.
Mansoor Khan had alleged that Roshan Baig had taken about Rs 400 crore from him, which the latter had rejected outright.
Mansoor Khan got here to India after a lot persuasion by the police and surrendered.
The then Congress and JD(S) coalition authorities had shaped a particular investigation group to probe the matter.
However, the BJP authorities after coming to energy handed over the case to the CBI.
The CBI had named an IAS officer, two IPS officers, a KAS officer, and a corporator among the many accused within the case.
The state authorities gave permission to the Central company to prosecute them.
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