Former Karnataka minister raided in Ponzi scheme worth Rs 4,000 crore

Former Karnataka minister R Roshan Baig and a Congress MLA have been raided in connection with the Rs 4,000 crore IMA Ponzi scheme. They said several complexes of the bag and its associates were raided under the Prevention of Money Laundering Act. Investigations are underway at two complexes at Shivajinagar in Bengaluru.

Apart from this, Congress MLA BZ Zamir Ahmed Khan from Chamrajpet in Bengaluru and his travel company are also under investigation.

Their flats and businesses were also raided in Bengaluru, including the National Travel Offices in Bengaluru. The four-time MLA was earlier in the JD (S) and is now in the Congress.

Investigations are underway at several places in Mumbai. The Congress MLA has done property transactions with IMA Group MD Mansoor Khan. He has also announced these deals in his election affidavit. The CBI had earlier arrested Bag in the case. He was suspended by the Congress following his name in the scam. He is currently out on bail.

The steps taken by the Enforcement Directorate are in line with the CBI's probe. He was an advisor to the Rs 4,000 crore Ponzi scheme.

The CBI had in April filed a case against Bag, Mansoor Khan, IMA Group and Bag's company Danish Publications and others in a special CBI court in Bengaluru.