IMA ponzi scam: Two IPS officers named as accused in CBI’s supplementary chargesheet

Other than the two IPS officers, the CBI has also booked several other city police officials as accused in the case.
IMA ponzi scheme
IMA ponzi scheme
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The Central Bureau of Investigation (CBI) has filed a supplementary charge sheet in Rs 4,000-crore I-Monetary Advisory (IMA) scam case against 28 accused, including senior IPS officers Hemant Nimbalkar and Ajay Hilori, officials said on Saturday. In its supplementary charge sheet filed at a Bengaluru special court, the CBI has also named IMA managing director Mansoor Khan as an accused in the case and former assistant commissioner of Bengaluru North Sub Division, LC Nagaraj, among others, the official said.

Besides, former deputy superintendent of police (CID) EB Sridhara, inspector and station house officer of the Commercial Street Police Station M Ramesh, and sub-inspector of the station P Gowrishankar have also been listed as accused.

Sridhara was the inquiry officer and Nimbalkar was the supervisory officer as inspector general in the enquiry done by CID EOW into activities of IMA group entities, the sources said.

The CBI has alleged in the supplementary charge sheet that Karnataka government revenue officials along with police officials of Bengaluru had closed the enquiries and verifications conducted by them into the complaints and information received by IMA.

"It was further alleged that the accused did not take necessary action under the law, including the KPID Act 2004, and instead had given a clean chit and recommended closure of the complaints, stating that the said private company had not indulged in any illegal acts. It was also alleged that the illegal activities of the said company had continued unabated and several thousands of investors had lost crore of rupees," CBI spokesperson RK Gaur said.

Nagaraj also inquired into the affairs of IMA and gave a clean chit without conducting a proper probe, the CBI said. The clean chit was given on the grounds that no unauthorised deposits were collected and investments of partners, limited liability, partnership are exempted under KPID Act, the agency has found, officials said.

The agency probe shows that Hilori, directly supervising the work of Ramesh and Gowrishankar, had failed to register cases in spite of receiving written complaints from state government officials and social activists, they said.

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