Mohammed Mansoor Khan the founder of the I Monetary Advisory (IMA) Group who was accused of cheating investors over INR₹2000 crore was arrested by the Enforcement Directorate (ED) after he landed at Delhi airport from Dubai Friday.
Khan fled the country soon after his firm wound up its operations.
The Karnataka Government set up a Special Investigative Team (SIT) to investigate the scam. A look-out notice against him had been issued by the Enforcement Directorate and the Karnataka Police.
Khan flew out of India in June, leaving behind an audio clip threatening to commit suicide. Later, in another video, he had offered to cooperate in the probe with certain conditions.
Former Karnataka Minister and Congress leader R. Roshan Baig was recently questioned by the SIT after Khan said he had borrowed INR₹ 400 crore from him. Baig was released after 14 hour of questioning by the Special Investigative Team (SIT).