IMA ponzi scam | Roshan Baig's properties will be attached: Govt tells HC

News Network
June 26, 2021

Bengaluru, June 26: The government of Karnataka has informed the High Court that it is in the process of identifying the properties of former minister Roshan Baig for attachment in connection with the I Monetary Advisory (IMA) scam case.

The government stated that prima facie it has found that Baig has played a key role in promotion of the IMA group, its business activities and has also obtained financial gains.

In the affidavit filed before a division bench headed by Chief Justice Abhay Shreeniwas Oka, Principal Secretary to Revenue department R Manjunath Prasad has stated that a notification to attach the movable and immovable properties of Baig will be issued under the Karnataka Protection of Interest of Investors in Financial Establishments (KPID) 2004. The affidavit stated that a communication had been sent to the competent authority under the KPID Act in the IMA case on May 4, 2021 and a reminder on June 14, 2021 for sending a report after identifying the assets.

“Further, the Commissioner of BBMP as well as Deputy Commissioner, Bengaluru Urban and Deputy Commissioner, Bengaluru Rural district have also been intimated to identify the properties belonging to ex-MLA R Roshan Baig and send the report back to government immediately,” the affidavit said.

It could be recalled that the court had directed the state government to reconsider its stand on attachment of properties of Roshan Baig. This direction was passed after the government maintained that its officers were not well acquainted in such matters, especially when assets concern people not linked to the administration of the company.

The court had directed the state government to act in accordance with section 3 of the Karnataka Protection of Interest of Depositors in Financial Establishments (KPID) Act for attachment of properties of directors and also assets procured out of the money of the depositors. The state government has now said that a notification for attachment of properties as per Section 3 of the KPID Act will be issued as soon as it gets details of the properties.

The bench posted the matter to July 7 for further consideration. The court said it will also take up the issue of Rs 12.82 crore donation made by IMA group to V K Obaidulah Government School in Shivajinagar. The court had directed the state government to take a decision on reimbursement of this amount to the competent authority. In response, the Department of Primary and Secondary Education has informed that the amount received as donation/gift cannot be paid back. 

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News Network
January 9,2025

Udupi: In a shocking case of cyber fraud, a 38-year-old woman from Karkala in Udupi district, has reportedly lost Rs 24 lakh to a digital arrest scam. The victim, Preema Sheril D'Souza, fell prey to a fraudulent scheme orchestrated through fake calls and threats.

According to the complaint filed, the incident unfolded on Tuesday when Preema received a call at 12:30 pm from an individual claiming to represent the Delhi Telecom Department. The caller alleged that another SIM card had been purchased using her Aadhaar number and was being used for illegal activities in Uttar Pradesh, leading to multiple cases being registered against her.

To add credibility to the scam, the caller arranged a video call where a person dressed as a police officer introduced himself as a CBI official. This individual instructed her to cooperate with the "investigation" and warned her not to disclose the matter to anyone. The scammer also issued threats, claiming that harm would come to her husband and child if she failed to comply.

Under duress, Preema was coerced into sharing her bank account details and transferring a staggering Rs 24 lakh to accounts specified by the fraudsters. She transferred Rs 14 lakh to an account in Federal Bank and Rs 10 lakh to an account in Yes Bank via RTGS from her Fixed Deposit account. The threats of an arrest warrant further pressured her into complying with the scammers' demands.

Upon realizing the fraud, she reported the incident to the authorities. A case has since been registered at the Karkala Rural Police Station, and investigations are underway.

This incident serves as a critical reminder to stay vigilant against such scams. Individuals are advised to verify the identity of callers and refrain from sharing sensitive information or transferring money without proper authentication. If you encounter similar fraudulent activities, report them immediately to the police or cybercrime cell.

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News Network
January 3,2025

Karnataka's Urban Development Minister, BS Suresha (Byrathi), has initiated a detailed investigation into ₹5,527 crore worth of projects executed under Prime Minister Narendra Modi’s flagship Smart Cities Mission in six cities of the state.

The minister expressed dissatisfaction with the quality of work in Belagavi, Davangere, Hubballi-Dharwad, Mangaluru, Shivamogga, and Tumakuru. To ensure accountability, Suresha announced the formation of a committee comprising experts from universities and the Indian Institute of Science. The committee will assess the projects and submit its findings within three months.

Bengaluru, however, is excluded from the probe as it falls under the jurisdiction of Deputy Chief Minister DK Shivakumar.

Launched in 2015, the Smart Cities Mission aims to enhance urban infrastructure across 100 cities in India, funded jointly by the central and state governments. Karnataka has spent ₹6,405 crore under this mission, including ₹877.72 crore in Bengaluru.

"Most of the funds have been allocated to roads, drainage, and park maintenance," Suresha lamented in a statement. "The focus should have been on creating permanent infrastructure such as smart schools, hospitals, libraries, and bus stands."

Suresha pointed out that, on average, each Smart City in Karnataka received ₹990 crore, with spending patterns revealing 36% on roads, 8% on energy, 2% on education, 2% on healthcare, and 5% on sports. He criticized this distribution, emphasizing that projects under the mission should have developed long-lasting government assets instead of temporary solutions like roads and drains.

With the mission slated to conclude in March 2025, Suresha urged the remaining funds to be directed towards constructing world-class smart schools. "This will enable children from economically weaker sections to access quality education," he said.

The minister also revealed that he had received multiple complaints from elected representatives about substandard work, particularly in Belagavi, Hubballi-Dharwad, and Shivamogga. The probe, he assured, will prioritize transparency and accountability.

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