IMA Ponzi scam: Rs 2.5 crore seized from arrested IAS officer

News Network
July 13, 2019

Bengaluru, Jul 13: The special investigation team probing the alleged Ponzi scam run by I Monetary Advisory (IMA) recovered Rs 2.5 crore cash from IAS officer and former Bengaluru Urban deputy commissioner BM Vijay Shankar, who was arrested last week.

According to a press release issued by the SIT, the recovered money includes the bribe amount Shankar took from IMA founder-owner Mohammed Mansoor Khan. “The remaining Rs 1 crore was also taken in the form of bribe. Shankar had given the entire Rs 2.5 crore to a city-based builder, saying he’d purchase an apartment and a piece of land,” the SIT press note said.

“The case of bribery by the accused — former DC Vijay Shankar and former AC LC Nagaraj — will be handed over to the Anti-Corruption Bureau for further investigation,” the release added.

Later in the day, SIT produced Shankar, Nagaraj, nominated corporator Mujahid and village accountant Manjunath before a local court, which remanded them in 14-day judicial custody at Central Prison. Following the court orders, the four accused were taken to the prison in Parappana Agrahara.

When SIT sleuths produced the quartet inside the packed court hall, Shankar hesitated to stand in the accused box. However, SIT sleuths forced him inside the box, where he stood with the three others. He broke down when the judge announced the decision to hand him and others to judicial custody. Shankar’s advocates tried to console him but in vain, sources said.

Investigations revealed Mansoor Khan had paid Rs 1.5 crore as advance to a company to jointly bid for constructing a dozen skywalks in the city. They had already constructed three skywalks. “The advance was made in the form of a demand draft to the company. Now, the company has returned the same DD and we have confiscated it,” the release read.

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News Network
February 28,2020

Bengaluru, Feb 28: “Those who struggle to come up can understand people’s problems better. Yediyurappa is one such leader who has reached this position after a struggle,’’ said former chief minister Siddaramaiah, in praise of Chief Minister BS Yediyurappa, who celebrated his 78th birthday on Thursday in Bengaluru.

Siddaramaiah was the only non-BJP leader on the dais, who not only attended the event, but was present throughout. He released a coffee table book, ‘A Leader who Saw Tomorrow’, on Yediyurappa’s life and achievements, compiled by The New Indian Express.

Dwelling on the political spectrum and human relationships, Siddaramaiah said, “Our ideologies are different, but that is limited to politics. Politics should not come between personal relationships.’’ Recalling his association with Yediyurappa, Siddaramaiah said that in 1983, he and Yediyurappa had entered the Assembly for the first time.

“Yediyurappa did not become chief minister just like that. It took years of struggle and hard work. We both have many similarities — neither of us came from political backgrounds. We came up through struggle and those who come from such backgrounds understand people,’’ he said.

Siddaramaiah said that it was Yediyurappa who first became chief minister, and he had reached the post only five years later. “I am five years younger than him, maybe that is the reason,’’ he said on a lighter note. Yediyurappa has become chief minister four times, but I have been chief minister only once, he added. He also spoke about how Yediyurappa had played an important role in bringing the BJP to power in the state, the party’s first government in South India. “Very few leaders know the pulse of the state and Yediyurappa is one among them,’’ he said.

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News Network
April 12,2020

Mangaluru, Apr 12: Kanara Chamber of Commerce and Industry (KCCI) has appealed to the Additional Chief Secretary to Karnataka government Jawaid Akhtar to exclude Dakshina Kannada district from hotspot/ red zone area pertaining to coronavirus, saying that the district has not reported any new case since last five days.

KCCI president Isaac Vas said DK district has not reported any new case of COVID-19 in the last five days. Of the 12 cases reported in the district, six are from Kasargod and one from Bhatkal.

None of the patients suffering from coronavirus are in ICU or put on ventilator, he said in a statement.

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News Network
February 16,2020

Udupi, Feb 16: Nine people were killed after a private bus collided with a large roadside boulder in Udupi district in Karnataka on Saturday, the police said. The accident took place on Saturday evening, at around 5.45 pm, on the Mulnur Ghat at Abbas Kattingeri in Mala village, while the bus was on its way to Mangaluru from Sringeri, reported the news channel.

The bus, which was reportedly carrying around 35 passengers, was trying to manoeuvre a turn while travelling on a ghat road when the driver allegedly lost control of the vehicle. The vehicle hit a massive boulder and the impact caused seven people to die on the spot. Two others passed away while they were on the way to the hospital.

The deceased passengers have been identified as Radha Ravi, Yogendra, Preetham Gowda, Basavaraju, Angana, Sharul and Ranjitha. The cleaner of the bus was also killed in the accident.

According to reports, the passengers in the bus were mostly in their early 20s and were employees of Vital Records Private Limited near JCK Industrial Park. Century Vital Records is a data security company which works in the Hebbal Industrial Mysuru. The group was visiting Udupi, Hornadu and Kudremukh.

While some of the injured persons were rushed to Manipal hospital, others were taken to the Karkala city government hospital, police said.

The police have said that rash and negligent driving by the driver is likely to have caused the accident. A case has been registered at the Karkala Rural Police Station, the police said.

Last month, three persons were killed and four others were injured after a fatal collision between a van and a bus near Bengaluru. Both the vehicles caught fire after the impact, but while passengers of the bus, travelling from Bengaluru to Shivamogga, managed to escape, the three passengers who were trapped in the van could not escape and were charred to death.

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