Bengaluru: IAS officer BM Vijay Shankar, who was investigated him over allegations of bribery in the Rs 4,000-crore IMA Ponzi Scam, committed suicide on Tuesday evening.
Looking back to the history, Vijay Shankar was arrested last year. The Special Investigation Team inquired him into the IMA or I-Monetary Advisory scam in which thousands of investors were cheated with offers of higher returns using Islamic ways of investment.
The former Deputy Commissioner of Bengaluru Urban was later released on bail.
Speaking to media, Bengaluru Police Commissioner Bhaskar Rao said that “Vijay Shankar committed suicide by hanging himself. He was accused of taking a bribe of Rs 1.5 crore in IMA scam. It was an unnatural death and we are investigating the case.”
Vijay Shankar was accused of accepting bribes to cover up the fraud when he was asked by the government to inquire into the IMA scheme.
His suspension was revoked recently and he had served for about a week in the state government’s Sakala Commission
Last month, the Central Bureau of Investigation (CBI) sought the Karnataka government’s permission to prosecute the officer along with two others.