IMA case: Prime accused Mansoor Khan gets bail

Bengaluru: Mohammed Mansoor Khan, the managing director and chief executive officer of I Monetary Advisory (IMA) has been granted bail by the Karnataka High Court in the money laundering case against him registered by Enforcement Directorate (ED).

Justice Sreenivas Harish Kumar granted the bail on the condition that Khan should not alienate any of his properties.

Khan also got bail as he has many health conditions.

Khan, however, remains in judicial custody as he is also been investigated by the Central Bureau of Investigation (CBI) and this bail has only been granted in ED’s case against him.

A CBI official stated that as their investigation is progressing they will file objections if Khan applies for bail in their case.

Khan is the prime accused in the IMA scam in which he collected more than Rs 4,000 crore from 55,000 investors in a false scheme.