IAS officer BM Vijay Shankar, was found dead at his home in a posh Bengaluru neighbourhood on Tuesday evening. Vijay Shankar said to be involved with a multi-crore IMA Ponzi scam. The police were informed about IAS officer BM Vijayshankar's suicide following which his body was taken for postmortem. Following BM Vijayshankar's suicide, details regarding his involvement with the multi-crore IMA Ponzi scam have emerged. Vijayshankar was arrested and jailed after he was allegedly found involved in the multi-crore IMA scam in the city during 2018-19.
The Karnataka cadre officer was suspended from service while he was Deputy Commissioner of Bengaluru Urban district after he had confessed to taking Rs 1.5 crore bribe from the IMA scam kingpin Mohammed Mansoor Khan though he alleged to have sought Rs 5 crore from the latter. The main accused in the scam is Mohammad Mansoor Khan, who started the ponzi scheme in 2013. A probe by the CBI had revealed that IMA group entities had raised illegal and unauthorised deposits to the tune of over Rs 4,000 crore in an allegedly fraudulent manner from investors, which caught the attention of the Income Tax department and the RBI.