Daijiworld Media Network – Bengaluru (RJP)
Bengaluru, Jul 9: The deputy commissioner (DC) of Bengaluru district (Urban) B M Vijayashankar was arrested on Monday, July 8 by the Special Investigating Team (SIT) relating to IMA multi-crore ponzi scam.
Vijayshankar was arrested on charges of allegedly taking a bribe of Rs 1.5 crore from IMA to forward a favourable report about the company to the Reserve Bank of India (RBI).
The RBI had earlier sought reports from the Karnataka government on investment companies including IMA about their functioning.
Vijayshankar took charge as the Bengaluru DC Urban in July last year and he is the second senior government official being arrested in connection with the involvement in the IMA case.
Assistant commissioner LC Nagaraj was arrested last week on charges of a favourable report to RBI and also for allegedly taking a hefty sum of bribe.
The SIT will take custody of Vijayshankar and question him about the bribe of Rs 1.5 crore and will proceed with efforts on recovering it.