IAS Officer Accused of Ponzi Scam Found Dead In Bengaluru

Karnataka: Vijay Shanker was found dead in his at his residence in Bengaluru the reasons are not yet sure but it seems to be one of the suicide cases. Police have been investigating this matter to assure the reason for his death. The Police Commissioner of Bengaluru said, “It seems to be an unnatural death and we are still investigating the matter”.

He has been accused of a multi-crore (IMA) I Monetary Advisory Ponzi Scam. He was found dead on the evening of June 23. His history records speak of his earlier involvement in IMA Ponzi Scam for which he was arrested by the Special Investigation Team for taking bribe of Rs 1.5 Crore from a company though he was released on bail earlier. He was Deputy Commissioner for Urban Bengaluru District.

After the case was transferred to the CBI, they filed FIR against Vijay Shanker also demanding the State Government’s permission to prosecute him in Mya 2020. The government took the decision for suspending him after he was arrested. The CBI seeks State Government’s permission to conduct legal proceedings against two people for the same case.

Mohammad Mansoor Khan who introduced the Ponzi scheme in 2013 is also said to be one of the accused. As there are sources from CBI who have confirmed that (IMA) I Monetary Advisor group has raised illegal deposits of Rs 4,000 Crore in a presumably forged manner which came to the notice of Income Tax Department and RBI. There might be investigations on IMA’S functioning as suggested by The Central Bank. After which the government had asked Vijay Shanker to submit a record on IMA to get a clearer picture.

The case got the glare of publicity after Masoor Khan fled to Dubai. He also left a message stating “he was killing himself because of the corruption”. On July 19 last year he was arrested in New Delhi, there were some others too from IMA who were arrested for this case by SIT.