The IMA case is currently being investigated by a special investigating team

BENGALURU: With chief minister BS Yediyurappa announcing a CBI probe into phone-tapping charges, the investigation into the multicrore IMA Ponzi scheme too is likely to be referred to the central agency for investigation.

The IMA case is currently being investigated by a special investigating team (SIT) comprising officers from the state police and Enforcement Directorate (ED).

Sources say the ED is investigating the money-laundering aspect of the case.

“The government is positively considering referring the IMA scam to the CBI, but it may take a decision only after the council of ministers is sworn in on Tuesday,” a source said.

Sources say the government does not want to rush a decision as a petition seeking a CBI probe into the scam is pending in the Karnataka high court. Mohammed Mansoor Khan , IMA founderowner and alleged kingpin, and former Bengaluru Urban deputy commissioner BM Vijay Shankar are petitioners in the case. A hearing is scheduled for Tuesday.

A senior government official said about 50,000 investors drawn from different states, including Kerala and Andhra Pradesh, lost crores of rupees in the Ponzi scheme and the case is fit for a probe by a central agency. Disqualified Shivajinagar MLA R Roshan Baig was the first to demand a CBI probe into the scam after Mansoor Khan, in a video tape message, accused him of defaulting on repayments.

