Bengaluru, Jul 5: Special Investigation Team (SIT) formed to investigate into multi-crore IMA Fraud today arrested Bengaluru North Sub-Division Assistant Commissioner L C Nagaraj on charges of receiving bribe from IMA for giving report in its favour to Reserve Bank of India (RBI).
Following direction from RBI to look into the bribe allegation, the Karnataka Government had asked Nagaraj to investigate about business of IMA and he had given a report stating that the company is functioning without violating any law.
Sources said that it was alleged that Nagaraj had received Rs 4.5 Crore from IMA fraud king pin Mohammed Mansoor Khan for giving clean chit in his favour to RBI.
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