Bengaluru (Karnataka): Central Bureau of Investigation (CBI) officials from New Delhi raided the house of former Karnataka minister Roshan Baig on Monday morning, a day after he was arrested in connection with a multi-crore ponzi scam.
The CBI team arrived at Baig's residence in Pulakeshinagar at around 6.30 am today morning and conducted the search.
The seven-member team of CBI officials which raided Baig's house, also raided his son's office and home in connection with the case.
Earlier yesterday, Baig was arrested by the CBI in connection with the multi-crore I-Monetary Advisory (IMA) ponzi scam.
Baig, a disqualified MLA of the Congress, was summoned to the CBI office on Sunday morning and "based on material evidence, he was arrested," officials said.
The former Shivaji Nagar MLA was produced before a court which remanded him to judicial custody, sources said.
Read: CBI arrests former Congress minister Roshan Baig
Baig, who is currently in the Parappana Agrahara prison, will spend the next 14 days at the Administration Barrack Quarantine Centre.
The multi-crore ponzi scheme run by Karnataka-based IMA and its group entities allegedly duped over a lakh of people to the tune of Rs 4,000 crore promising higher returns using Islamic ways of investment.
The scam came to light in June last year when the IMA operator Mohammed Mansoor Khan fled the country accusing Baig and some government officers of cheating him.
Khan had alleged that Baig had taken about Rs 400 crore from him, a charge rejected outright by the latter.
