Deputy Commissioner of Bengaluru urban district BM Vijay Shankar was arrested on Monday in connection with the I Monetary Advisory case. The special investigation team, looking into the IMA scam, arrested Shankar on charges of receiving Rs 1.5 crore from the founder of the company, PTI reported.

The Indian Administrative Services officer allegedly took a bribe in exchange of a favourable report after the Reserve Bank of India had asked the state government to investigate the firm’s business. So far, five people have been arrested in the case, including Shankar, who allegedly received the money through a village accountant.

“During our investigation, we found that Shankar had taken Rs 1.5 crore through the village accountant to give a clearance certificate to a central agency investigating the scam,” The New Indian Express quoted Deputy Commissioner of Police Girish, who is part of the SIT, as saying.

On July 6, the investigating team had arrested Bengaluru North Assistant Commissioner LC Nagaraj and the village accountant, Manjunath, for allegedly taking a bribe of over Rs 4 crore from IMA’s founder Mohammed Mansoor Khan. Nagaraj was reportedly looking into the company after Reserve Bank of India highlighted irregularities.

Nagaraj had issued a public notice against IMA in March this year,” The News Minute quoted an unidentified member of the SIT as saying. “However, without probing the irregularities, a clearance certificate was given to RBI allegedly stating that no complaints were received against IMA. Shankar signed off on the clearance certificate. Nagaraj had taken Rs 4.5 crore bribe from Mansoor Khan and 1.5 crore was given to Shankar.”

The Enforcement Directorate, which is also looking into the case, on June 28, issued a notice to Karnataka minister BZ Zameer Ahmed Khan to appear before it. The agency also questioned Khan as he had sold his property to the IMA founder.

The Enforcement Directorate had recently lodged a criminal case of money laundering against the IMA Group of Companies and its promoter and managing director Mohammed Mansoor Khan. He has been accused of running a ponzi scheme in Karnataka that has allegedly duped more than 30,000 people of Rs 5,000 crore. People from Bengaluru, Hyderabad, New Delhi, and Tamil Nadu are said to have invested into the company.