Bengaluru: Two IPS officers amongst 28 charged in IMA rip-off

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Two IPS officers are amongst 5 policemen who’ve been charged within the Rs 4,000-crore IMA Ponzi scheme that rocked Karnataka in June 2019. 

On Saturday, the Central Bureau of Investigation (CBI) filed a supplementary cost sheet towards 28 individuals, together with the 5 cops, and Mohammed Mansoor Khan, the managing director and CEO of I Financial Advisory (IMA). The Bengaluru-headquartered IMA went bust after having taken hundreds of crores from individuals, largely Muslims, within the identify of ‘Halal’ funding companies. 

Khan has already been arrested within the case, together with many different accused. The case was handed over to the Central Bureau of Investigation (CBI) after the BJP got here to energy final yr. The CBI registered 4 circumstances within the rip-off and submitted the cost sheet in September final yr, naming Khan and 24 others, together with IMA administrators, members and an auditor. In September this yr, the CBI filed one other cost sheet, naming former Bengaluru North assistant commissioner L C Nagaraj and a village accountant. At the moment, the CBI didn’t cost the-then Bengaluru City deputy commissioner, B M Vijay Shankar, as he ended his life in June. 

Saturday’s cost sheet was filed months after the state authorities issued the sanction to prosecute IPS officers Hemant Nimbalkar and Ajay Hilori. Nagaraj has been named once more. 

Nimbalkar, at the moment further commissioner of police (administration), Bengaluru, was IGP (Financial Offences Division), Legal Investigation Division, when he dedicated the alleged offence. Hilori, at the moment Commandant of Karnataka State Reserve Police (KSRP), was the deputy commissioner of police (east), Bengaluru, at the moment. 

The three different cops who’ve been charged are E B Sridhara, the-then deputy superintendent of police, financial offences division, CID; M Ramesh, the-then inspector of the Business Avenue police station, and P Gowri Shankar, the-then sub-inspector of the Business Avenue police station. 

The CBI’s case is that Nagaraj and the police officers had closed enquiries and verifications of complaints that they had acquired from residents towards IMA. The accused didn’t take the mandatory motion underneath the legislation, together with the Karnataka Safety of Curiosity of Depositors in Monetary Institution Act, 2004. They as a substitute gave clear chit to the corporate and really helpful closing the complaints, stating that IMA had not indulged in any unlawful acts.  The clear chit enabled the corporate to proceed its unlawful enterprise and cheat hundreds of traders. 


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