CBI arrests ex-Karnataka Minister Roshan Baig in IMA ponzi scam

Bengaluru, Nov 22: Former Congress minister R Roshan Baig was arrested by the CBI here on Sunday in connection with the multi-crore I-Monetary Advisory (IMA) ponzi scam, the agency sources said.

Baig, a disqualified MLA of the Congress, was summoned to the CBI office on Sunday morning and "based on material evidence, he has been arrested," they said.

The former Shivaji Nagar MLA was produced before a court which remanded him to judicial custody, the sources added.

The multi-crore ponzi scheme run by Karnataka-based IMA and its group entities allegedly duped lakhs of people promising higher returns using Islamic ways of investment.