Enforcement Directorate,(ED)raided properties belonging to former MLA R.Roshan Baig and Congress MLA B.Z.Zameer Ahmed Khan,in connection with the Rs.4,000 Crore IMA Scam,a Ponzi scheme that cheated thousands of investors in the name of Halal investment and went bust in June 2019.
Raids have been underway at multiple locations in the city against both leaders since Thursday morning.
This is a first raid by the ED officials on the four-time legislator from Champarajepet Zameer Ahmed Khan’s premises after his name cropped up in the scam in July 2019 and even he had mentioned in asset declarations form submitted to the Election Commission that he borrowed loan from IMA and its founder.
While Mr.Baig has been chargesheeted in the case by CBI,Mr.Khan though was questioned by multiple agencies including ED before for a property transaction with IMA founder Mohammed Mansoor Khan,he has not been charged by any agency till date.
ED,Bengaluru that began the probe into the case in 2019,transferred the case to the head office in Delhi in 2020,due to the sensitive and high profile nature of the case,sources said.
The Agency that had largely kept quiet for nearly a year and a half sprung into action on Thursday.
A team of over 100 ED officials from New Delhi branch have landed in the city for the raids and search operations are underway at over six properties connected with Mr.Baig,including his two residences in Shivajinagar,while it is underway at the Chamarajpet residence of Mr. Khan apart from the offices of National Travels,a firm he owns and other properties linked to him, sources said.
Mr.Khan is known to have sold one of his properties on Serpentine Road,Richmond Town spread over 14,924 sqft for a consideration of Rs.9.38 Crore to IMA founder Mohammed Mansoor Khan,a transaction declared in the 2018 poll affidavit.
Mr.Khan has consistently denied any other business links to IMA other than the property sale.
He was questioned by multiple agencies -SIT of Karnataka Police,CBI and ED in connection with the case,but none charged him of any offence till date.
Meanwhile,Mr. Baig,whom IMA Founder Mohammed Mansoor Khan blamed for his business to go kaput as he was forced to pay him Rs.400 Crore,was arrested by Central Bureau of Investigation (CBI) in November 2020 and is presently out on bail.
CBI filed a chargesheet against him in the case in April 2021 in which they accused that depositor’s investments in IMA was diverted to Mr.Baig,then a minister in the Siddaramaiah led Congress government to continue its illegal activities.
The Competent Authority in IMA and other scams of Karnataka on July 6 has already attached around 20 movable and immovable properties belonging to Baig,estimated to be worth over Rs.15 crore.
Congress suspended him from the party after the scam broke and though he wanted to join BJP, the party high command blocked his entry due to his tainted image making him a political pariah. Competent Authority in IMA and other scams, Government of Karnataka on July 6 attached around 20 movable and immovable properties of Mr. Baig,estimated to be worth over Rs.15 Crore.
Enforcement Directorate (ED) officials on Thursday arrested Congress legislator Zameer Khan’s nephew Muzamil says sources.
The search operations are underway at various premises connected with Baig,including his two residences in Shivajinagar,and at the Chamarajpet residence of Khan apart from offices of National Travels,a firm he owns,and other properties linked to him.
Sources revealed that in all the locations the officials informed the local police about the raids after which security was deployed in these areas.
