Karnataka: IAS officer, accused in the IMA Ponzi scam case, found dead

Karnataka: IAS officer Vijay Shankar, accused in the IMA Ponzi scam case, was found dead in his house

Shankar, a former Deputy Commissioner of Bengaluru urban district, was found dead at his residence in Jayanagar. Vijay Shankar is alleged to have taken a bribe to cover up the IMA Ponzi scam.

IAS officer BM Vijay Shankar was found dead at his residence in Bengaluru on Tuesday night. A senior police officer gave this information. Significantly, the Central Bureau of Investigation (CBI) wanted to run a case against Shankar in the Rs 4,000 crore IMA Ponzi scam.

According to the police, Shankar, a former Deputy Commissioner of Bengaluru urban district, was found dead at his residence in Jayanagar here. Without elaborating, he said, “It is true that he has been found dead at his home.” Vijay Shankar is alleged to have taken a bribe to cover up the IMA Ponzi scam.

In 2019, a special investigation team was formed by the former Karnataka Chief Minister HD Kumaraswamy-led coalition government that arrested Shankar, after which the BJP government handed over the case to the CBI. CBI sources said that recently the agency had sought permission from the state government to prosecute Shankar and two others in the case.

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The CBI had also sought permission from the state government to prosecute two senior IPS officers in the case. Mohammed Mansoor Khan started the Ponzi scheme in 2013 promising to refund a large sum of money.