IMA Scam: CBI conduct raids at 15 locations in Karnataka & Uttar Pradesh

New Delhi: The CBI on Friday conducted raids at 15 locations in Karnataka and Uttar Pradesh in connection with its probe into the multi-crore ‘I Monetary Advisory (IMA)’ scam. A specially formed multidisciplinary investigating team of the Central Bureau of Investigation conducted these searches at the residences of over a dozen public servants who conducted inquiries into the IMA group entities, furnished favourable reports and gave a clean chit to the persons linked to the group. As a result, the fraud “continued unhindered”.

The places raided by the CBI team include 14 in Karnataka and one in Uttar Pradesh’s Meerut. In Karnataka, the CBI raided 11 places in Bengaluru district, one each in Mandya, Ramanagara and Belgaum.

The searches were conducted at the residences of Hemant Nimbalkar, then Inspector General Economic Offence Wing of Central Investigation Department (CID); E.B. Sridhara, then Deputy Superintendent of Police (SP) CID; Ajay Hilori, then Deputy SP of Karnataka Police (Bengaluru East); M. Ramesh, Inspector and then Station House Officer (SHO) Commercial Street Police station; Gowri Shankar, the then Sub-Inspector of Commercial Street Police station; LC Nagaraj, then Assistant Commissioner (Bengaluru North Sub-Division); and competent authority under the Karnataka Protection of Interest of Depositors in Financial Institutions Act (KPID), 2004.

The residences of B.N. Vijay Shankar, then Deputy Commissioner (Bengaluru Urban District); Manjunatha, village accountant Bengaluru North Sub-Division; P.D. Kumar, the then chief engineer Bangalore Development Authority (BDA) were also raided. (IANS)

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