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Home » IANS » K’taka ex-minister Baig gets bail in IMA ponzi scam case

K’taka ex-minister Baig gets bail in IMA ponzi scam case

By IANS
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Bengaluru, Dec 5 (IANS) A special CBI court in Bengaluru on Saturday granted conditional bail to former Karnataka Home Minister R Roshan Baig in the multi-crore I-Monetary Advisory (IMA) ponzi scam case.

Central Bureau of Investigation spokesperson RK Gaur said that Baig was granted bail due to his health condition but with a lot of restrictions.

Baig was directed to surrender his passport and not travel outside the city without prior intimation or permission from the court.

Seven-time legislator Baig was a prominent Muslim face of the Congress after he joined it in 1999. He remained a Minister many times till 2018 when he severed ties with the Congress.

Baig was arrested by the CBI on November 21 in connection with the IMA ponzi scam case and sent in 14-day judicial custody. He was moved to state-run super-speciality Sri Jayadeva Institute of Cardiovascular Sciences on November 24 after he complained of heart-related ailments.

Baig is at present lodged in the Bengaluru central prison.

Earlier, the CBI had filed a supplementary charge sheet against government officials and police officers in the Rs 4,000-crore chit fund scam case.

The multi-crore Ponzi scheme was run by Karnataka-based IMA and its group entities allegedly cheated more than a lakh persons by promising higher returns.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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