Wednesday 20 November 2019
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business-standard - 11 days ago

CBI registers another FIR in IMA ponzi scam

The CBI on Saturday booked former deputy commissioner of Bengaluru urban district B M Vijay Shankar, then assistant commissioner L C Nagaraj and a village accountant in connection with the I-Monetary Advisory (IMA) ponzi scam. This is the third FIR registered by CBI in connection with the IMA Scam, CBI said. The charges against Shankar and Nagaraj are that they allegedly accepted illegal gratification from the directors of IMA Group of Companies through the village accountant Manjunath, who acted as a mediator for the transaction, the investigating agency said in a statement. The illegal gratification was allegedly demanded and accepted by the two said public servants for forwarding a favourable report to state government in an inquiry into the illegal activities of IMA Group of Companies which was under their consideration, the statement read. The CBI said the alleged illegal gratification of Rs 1.5 crore demanded by Shankar was delivered to a real estateconcern ...

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