Bengaluru: The Central Bureau of Investigation (CBI) on Sunday arrested former Congress Minister Roshan Baig in connection with the Multi-crore I Monetary Advisory (IMA) ponzi scam.

A team of CBI officials visited Baig’s residence around 11 am yesterday and secured his custody, following which he was taken to the CBI Office. Baig, who was elected on a Congress ticket from Shivajinagar Assembly segment in 2018, had quit his seat as part of his gameplan to join the BJP last year.

The CBI, after recording his statements for several hours, arrested the former Minister based on material evidence. Baig was produced before the CBI Special Judge, who remanded him to judicial custody.

The prime accused in the multi crore ponzi scam, Mohammad Mansoor Khan, MD and CEO of IMA, who was arrested from a Gulf country last year by the SIT, which was then probing the case, had alleged that he incurred huge losses and was unable to return the money of his investors because Baig had taken Rs. 400 crore from him.Mansoor Khan had also alleged that Baig had threatened him when asked to repay the money.