IMA Jewel scam: SIT arrests Shivajinagar corporator's husband

Bengaluru: A special investigation team (SIT) probing the multi-crore IMA Jewels scam on Tuesday arrested the husband of a corporator for allegedly extorting Rs two crore from the main accused Mohammed Mansoor Khan.

Ishtiaq Ahmed (50), husband of Shivajinagar corporator Fareeda Ishtiaq, was arrested, police said in a statement.

Police said Ahmed was into many criminal activities and there were 48 cases registered against him in various police stations in the city. He is also close associate of some MLAs in the city, they said.

Khan has been accused of running a Ponzi scheme in Karnataka that has allegedly duped more than 30,000 people of Rs 5,000 crore. People from Bengaluru, Hyderabad, New Delhi, and Tamil Nadu are said to have invested into the company.

Till date, about 25 people have been arrested, including an IAS officer, a Karnataka Administrative Service officer, a nominated corporator and 12 directors of the firm.