Syed Mujahid
Syed MujahidTwitter

The Special Investigation Team (SIT) has arrested Bruhat Bengaluru Mahanagara Palike's (BBMP) nominated councillor Syed Mujahid for his involvement in IMA scam and seized cash and crucial documents from his residence.

The investigating officers have seized documents relating to IMA's transactions and deals, a Toyota Fortuner car and two mobile phones related to IMA from Mujahid's residence in Fraser Town. After questioning him, the police found that Rs 1.2 crore was stashed away by the fraudulent firm in 101 hidden accounts. The police had detained him for questioning on Saturday as they suspected that he received money from IMA director Mohammed Mansoor Khan. He has been taken into remand for 13 days.

According to reports, Mujahid is said to be a close aide of Khan and was aware of his plans to shut down IMA. It was Mujahid who made arrangements for Khan's escape and had met him before he fled to the middle-east from Bengaluru's Kempegowda International Airport (KIA) on June 8. Khan fled to the UAE and Mujahid left for Sri Lanka on the same date. He said that Khan allegedly told him that he was leaving the country to return with the investor's money.

Mujahid was reportedly one of Mansoor's beneficiaries and had monetary transactions with him. IMA group directors had also spilled the beans on Mujahid's involvement in the firm, reports TOI.

At a press meeting on June 19, Mujahid had claimed that he had met Khan to seek security for the latter's family. He claimed Khan told him that he was leaving the country to return with money to pay off investors, adds the report.

The SIT probe revealed that Khan allegedly spent Rs 400 crore to hold parties for politicians and bureaucrats in the state. They are now likely to question people who received favours from Khan.