The Special Investigation Team probing the multi-crore IMA group ponzi scam Wednesday seized 303 kg of fake gold bars hidden under the swimming pool in the 6th floor of a building here belonging to group owner Mohammed Mansoor Khan.
The ponzi scheme operator Mohammed Mansoor Khan used to show the huge quantity of gold to the people and enticed them to invest in his company, the SIT said in a release.
Before fleeing the country, Khan had hid the fake gold bars in the swimming pool on the 6th floor of his building. The SIT raided the place and seized the 5,880 gold bars weighing 303 kg, it added.
Mansoor Khan, the owner of IMA jewels, was arrested last month in New Delhi by the Enforcement Directorate.
Khan, who had fled to Dubai, flew back to India and was arrested on landing in Delhi.
The Enforcement Directorate had attached assets worth Rs 209 crore, including 20 immovable properties and bank deposits, in connection with the case.
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The ED had filed the money laundering case against the IMA group of companies and Mohammed Mansoor Khan after reports emerged that he has gone underground fearing investments worth crores of about 40,000 investors have tanked.
The SIT has arrested over 25 people.
Those arrested include 12 directors of the IMA, a corporator, a corporators husband, former deputy commissioner of Bengaluru urban district and assistant commissioner of Bengaluru North sub-division.
It recently questioned Congress MLA B Z Zameer Ahmed Khan in connection with the case.
The SIT wanted to question disqualified Congress MLA R Roshan Baig but he did not appear before it seeking time.