BENGALURU: The Special Investigation Team (SIT), looking into the I Monetary Advisory (IMA) case on Monday made its most high profile arrest so far. Bengaluru Urban Deputy Commissioner BM Vijayshankar was arrested by the SIT on charges of accepting Rs. 1.5 crore cash from Mohammed Mansoor Khan, the founder of IMA, through an intermediary. Last week, the SIT had arrested Village Accountant Manjunath and Bengaluru North Assistant Commissioner L C Nagaraj. According to police officers, Vijayshankar’s involvement was revealed during the interrogation of these two officials.
“During our investigation, we found that Vijayshankar had taken Rs. 1.5 crore through the village accountant, to give a clearance certificate on behalf of IMA, to a central agency investigating the scam,” DCP Girish, an investigating officer with the SIT said.
Sources said that Nagaraj had been entrusted with the task of investigating IMA, based on communication from the RBI, highlighting irregularities with the firm. Nagaraj had issued a public notice, seeking complaints against IMA from the public, but the case was closed and a clearance certificate given to the RBI stating that no complaints were received, sources said. Nagaraj allegedly took a payment of Rs. 4.5 crore for the same and Vijayshankar is accused of taking Rs. 1.5 crores for the same reason, routed through Manjunath. Meanwhile, a builder, Krishnamurthy, has also been taken into custody and is being questioned in the case.
The police will produce Vijayshankar before the court and seek police custody to interrogate him further. The SIT has so far searched the residence of LC Nagaraj and secured police custody of Manjunath. The team also raided four medical shops belonging to the IMA group and seized several materials. Earlier, the Enforcement Directorate had attached assets worth Rs. 209 crore including immovable properties and bank deposits. Food and Civil Supplies Minister Zameer Ahmed Khan also deposed before the Enforcement Directorate on Friday.