Day after R Roshan Baig's arrest in IMA ponzi scam, CBI searches ex-minister's Bengaluru residence

Bengaluru: The Central Bureau of Investigation officials on Monday conducted searches at the residence of former Karnataka minister R Roshan Baig in Bengaluru, a day after arresting him in the multi-crore IMA ponzi scam. The sleuths from the CBI office in Bengaluru searched two locations including the residence of expelled Congress leader Baig in Pulakeshi Nagar, the agency sources said. “The searches at two places started at 7.30 am and concluded by 4 pm,” said a CBI source without divulging information on the outcome of the searches. The premier investigation agency arrested Baig on Sunday after day-long interrogation in the Rs 4,000 crore multi-crore I-Monetary Advisory (IMA) ponzi scam, in which over a lakh investors have been duped. Baig, who was disqualified as a Congress MLA after he revolted against the party last year, was summoned to the CBI office on Sunday morning and “based on material evidence” he was arrested. He was later lodged in the central prison in the city after a court remanded him to 14-days judicial custody. Meanwhile, former chief minister and Congress Legislature Party leader Siddaramaiah said the party has no relation with Baig. “Baig is not in our party and we have no connection with him,” Siddaramaiah told reporters at Maski in Raichur district. The scam came to light in June last year when the ponzi scheme operator Mohammed Mansoor Khan fled the country accusing Baig and some government officers of cheating him. He had alleged that Baig had taken Rs 400 crore from him, a charge rejected by the latter. He had also accused an IAS officer, two IPS officers and a KAS officer of collecting bribes from him. Meanwhile, the CBI which had taken Mansoor Khan in its custody three days ago got an extension of his custody by the CBI special court till 27 November. “We had taken the custody of Mansoor Khan three days ago and his custody has been extended till 27 November to confront the accused and co-accused,” CBI sources said.