IMA ponzi scam accused Vijay Shankar commits suicide

Updated: Jun 24, 2020, 09:28 IST | ANI | Bengaluru

The CBI, Bengaluru, registered a case against accused Shankar and two other government officials for accepting "illegal gratification" from the I Monetary Advisory (IMA) in November last year

This picture has been used for representation purpose
This picture has been used for representation purpose

Former Deputy Commissioner (DC) of Bengaluru Urban Vijay Shankar, who was involved in the IMA ponzi scam, allegedly committed suicide here by hanging himself.

"Vijay Shankar, former DC of Bengaluru committed suicide by hanging himself. He was accused of taking bribe of Rs 1.5 crore in IMA scam," said Bengaluru police commissioner Bhaskar Rao.

He added, "It was an unnatural death and we are investigating the case."

The Central Bureau of Investigation (CBI), Bengaluru, registered a case against accused Shankar and two other government officials for accepting "illegal gratification" from the I Monetary Advisory (IMA) in November last year.

The CBI registered a case against Shankar along with LC Nagaraj, former Sub-Division Officer, Bengaluru North Division and Manjunath, Village Accountant, officiating at Sub-Division Office, Bengaluru North Division.

According to the agency, Shankar and Nagaraj had allegedly accepted a bribe from the Directors of IMA Group of Companies through Manjunath, who acted as a mediator for the transaction.

The bribe was allegedly demanded and accepted by the two public servants for forwarding a favourable report to the government in an inquiry into the illegal activities of IMA Group of Companies, which was under their consideration.

It was further alleged that the "illegal gratification" of approximately Rs 1.5 crore was demanded by Shankar, which was delivered to a real estate concern through Manjunath and a director of IMA company.

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