The Central Bureau of Investigation (CBI) on Tuesday filed a supplementary chargesheet against former Congress Minister Roshan Baig in connection with the I Monetary Advisory (IMA) investment scam. The agency also named the Minister’s firm, IMA managing director Mohammed Mansoor Khan, and other directors in the supplementary chargesheet, filed before the special CBI court.
Mr. Baig had allegedly received several crores from the IMA funds for election expenditure. In the supplementary chargesheet, CBI officials have claimed that when he used the money to host social and cultural activities in his constituency to increase his popularity. It is further alleged that the accused had been utilising the funds for daily expenditure as well as to pay the salaries of the employees of his firm, Danish Publications.
The funds of IMA were unauthorised deposits raised from the innocent public. It ran to the tune of approximately ₹4,000 crore from around one lakh investors, according to CBI officials. As part of its investigation, the CBI has registered four cases to date and filed three chargesheets against 33 accused, including revenue and police officers. It has also filed three supplementary chargesheets.
Mr. Mansoor Khan and the other directors are accused of cheating the public by failing to repay the principal as well as the promised returns. “These funds were diverted for acquiring properties, paying bribes to officials later charged in the case,” said the CBI.
