IMA scam: Corporator’s husband held for taking 'bribe'

The history-sheeter husband of Shivajinagar corporator was arrested on Tuesday for allegedly having taken a bribe of Rs 2 crore from IMA founder Mohammed Mansoor Khan. 

Ishtiaq Ahmed alias Pailwan, 50, was arrested by the Special Investigation Team (SIT) which is probing the multi-crore IMA investment scam. Police said Ahmed, whose wife Fareeda Ishtiaq is the sitting corporator from Shivajinagar, was an accused in at least 48 cases and that his criminal record dated back to 1993. He is listed as a history-sheeter at the Shivajinagar police station. 

The Central Crime Branch (CCB) arrested him last year for collecting Hafta, or protection money, from restaurants in Shivajinagar. Ahmed's name also did the rounds in the Ambidant case, a fraud similar to the IMA.