The Central Beureau of Investigation (CBI) arrested former minister R Roshan Baig in connection with the IMA scam on Sunday, November 22.
According to media reports, the CBI conducted search and seizure operations at his residence in Bengaluru on Sunday and detained him for questioning that lasted several hours. By evening, it arrested him and produced him before a special court, which remanded him in judicial custody for 14 days.
It can be recalled here that the prime accused Mohammed Mansoor Khan, owner of IMA, had alleged in a viral video that Baig had extorted Rs 400 crore from him.
Mansoor Khan has been accused of duping around 30,000 investors of crores of rupees in Ponzi scam, where he promised to invest their money in the gold market under Halal principles.
Surprisingly, many educated people from Hubballi-Dharwad have also invested lakhs of rupees in IMA. They are now hopeful that they may get their money back.