Former Congress MLA Roshan Baig Arrested By CBI In Ponzi Scam Case


New Delhi:

Roshan Baig, a former congressional minister from Karnataka, was arrested by the CBI on Sunday in connection with the Rs 4,000 crore IMA ponzi scheme. He was then taken to a local court and sent into judicial detention for 14 days .

Roshan Baig was summoned to the CBI office and based on “physical evidence” he was arrested, the agency said.

The scam linked to a ponzi scheme run by the Bengaluru-based IMA group came to light in June 2019, when payments to investors in the company’s programs abruptly ceased. The founder, Mansoor Khan, then fled abroad, leaving thousands of investors embarrassed. He was arrested a month later.

Abroad, Mansoor Khan posted an audio message accusing Roshan Baig of taking Rs 400 crore from him and failing to return it.

Roshan Baig had refuted the claim, saying the statement was “frivolous, baseless and mischievous”.

In 2019, he was expelled from Congress for criticizing the state party leadership for its poor performance in the general election.

The MP had seen his name dragged into the case as a fallout with his opponents in Congress, which was in power when the case was filed.


Roshan Baig was among the MPs whose revolt led to the collapse of the JDS congressional government. He was not, however, inducted into the BJP like the others.

In June of this year, in response to violence in Karnataka, Roshan Baig alleged that Congress had sponsored “extreme radical” organizations for more than a decade.

The government of Karnataka is launching a program for investors in the IMA ponzi scheme to get their money back.

“We invite claims from IMA applicants. Claims can be submitted within one month of November 25. Any claims received after December 24 will not be acceptable. Claims can be submitted online, or people can submit their requests to Bangalore One or Karnataka One Help Centers, ”said Harsh Gupta, special officer and competent authority in the IMA case.

With inputs from PTI


Disclaimer: The content and images used in this article is rewritten by the authors of NewsTube and sourced from for more information read our Privacy Policy.


Please enter your comment!
Please enter your name here