SIT raids properties again

For the second time in a week, the Special Investigation Team (SIT) raided I Monetary Advisory (IMA) office in Shivajinagar in connection with the multi-crore scam. Searches were on for over 12 hours.

A SIT source revealed gold ornaments worth Rs 8 crore were among the items seized during the raid. Apart from gold, several documents and lockers were seized in searches that continued till 8 pm.

An official statement by the SIT stated the search at the Lady Curzon branch of IMA began at 10:00 am and went on till 9:00 pm. During the search and audit, 30 kg gold, about 2,600 carat diamonds and about 450 kg of silver were seized. The estimated value of the seized items is about Rs 20 crore. Certain property documents have also been assessed and taken into possession. The searches will continue in the coming days.

Subsequently, the seized jewelry, stored in about 20 huge suitcases, were reportedly deposited in the state treasury at the Vidhana Soudha.