Bengaluru, Jan 18: Amidst the ongoing probe into the multi-billion IMA ponzi scam, another similar scam has come to light in the city wherein around 2500 depositors, most of them Muslims, are fearing that them may lose Rs 350 crore.
Shockingly, Shafiullah, Rafiullah, and Zabiullah, three brothers who run the Baraka Investment Consultant Private Limited, have accused the police of taking over 10 crore rupees bribe from them.
The depositors say that when they recently demanded their investments back from the accused the trio, they allegedly told them that they had paid the Central Crime Branch (CCB) and the RT Nagar police over 10 crores and they could collect that money from the police.
The aggrieved investors alleges that the RT Nagar police have charge-sheeted the three accused only on the complaints of 13 affected depositors who lost precisely Rs 97 lakh and the case is being probed under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 instead of Karnataka Protection of Interest of Depositors in Financial Institutions Act, 2004 (KPID Act) or the Banning of Unregulated Deposit Schemes Ordinance, 2019 (BUDS) Ordinance.
Aggrieved victims alleged that when the Baraka Investment Consultants had a Registration Certificate of Establishments from Department of Labour issued on November 28, 2017. The CCB took up a suo-motu case against Tellnet Computers on August 16, 2018, after they received complaints from Baraka investors.
Apparently, the CCB knew that Baraka Investment Consultants and Tellnet Computers was one and the same and operating from the same office, but they did not mention the name of Baraka in the case initially for reasons best known to them, said the victims of the Ponzi scheme. A few victims who wished to remain anonymous told BM that a CCB police inspector and one of the accused, Zabiullah, were childhood friends, neighbours and both hailed from Chikkaballapur. This is one of the reasons, they allege, the inspector has protected the accused by downplaying the scam.
The case registered by the CCB states that there are only 500 to 600 depositors who deposited amounts between Rs 50,000 to Rs 1 lakh expecting returns ranging from Rs 5000 to Rs 7000 a month, but in reality there are more than 2500 investors who have deposited amounts ranging from Rs 50,000 to Rs 50 lakh, expecting returns between 12% to 24%, said the victims. Despite this, the CCB was sitting on the case and making no investigations, the victims alleged.
It was later on in May 9, 2019, an FIR was registered by the RT Nagar police when many victims approached the police commissioner and petitioned him. “Even in this case, the accused Zabiullah was not arrested. Zabiullah’s two brothers, Shafiullah and Rafiullah, and his father Abdul Rahman were arrested, but were later granted conditional bails,” one of the victims Mohammed Yahya (42), a software engineer said.
Yahya had invested Rs 10 lakh with Baraka. “Though this case has been charge-sheeted, the police have not made any recoveries or they have not confiscated any properties of the accused,” alleged victim Habibur Rehman (42) who had invested Rs 5 lakh in Baraka. “There is clear-cut evidence that the accused was dealing in foreign exchange using the investors’ money without their knowledge and was offshoring and parking crores and crores in countries like Russia, Dubai, Malaysia, and Singapore. Though the police knew about this, they did nothing to stop it or bring it back,” said Azgar Pasha (44), a businessman who had invested Rs 41 lakh.
Comments
We pray to ALLAH, for your quick recovery
May ALLAH Help you
All the best Mr. Bava!
Bawa ka Eer daane mool?
Yaan moole Yereg aauwuye kiri kiri Car d popina
Mool ragaale ijji selfie geppuni jappuni hahaha.......
Whatever may people say.... Mr. Moideen Bava is able bring a lot of money from state govt or central govt. to his region...and works are in progress. I am not aware of much in politics, but Bava's smiling Photos we can see everywhere (especially in Krishnapura)...and he is a happy man. His smiling face even in the hospital is some thing explains what is \Moideen Bava\". I pray for a speedy recovery. Let him learn more and take interest in helping all poor people of his region whatever may be their religion (Hindu, Muslim, Christian....all.)"
KEEP HOPE ON ALMIGHTY AND HE WILL PROTECT YOU FROM ALL OBSTACLES AND HINDRANCES BY PROVDINDG SERVICES TO THE PEOPLE HONESTLY.
WISH U SPEEDY RECOVERY.
Oh we can see comments from tolerant guys here..
We wish you a speedy recovery bhai.. May Allah protect you and all muslims from all evils.
our prayer are with u MR Bava u have done very good work for surathkal blessing from poor people is always with u
GET WELL SOON
Moideen Bava a Great Personality !!!!!!!!!!! u got 100 crores people blessing.
all goes well, praying for u always.
get well soon bava ji...
our MLA moideen bava we are proud to have u here in our constituency. we expect more good work from your side, for that u have to be healthy and smart. praying always for u, get well soon, will try to visit hospital.
Big Fraud !!!!!!
nobody can do anything to bava as far as we are there, look like bjp is jelousy on bava, may be their is hand behind of this incident
Really sad to hear this, get well soon bava we are with u, u have done very good development work in our locality. we are always kind to u.
ohhh really tragic incident look at the car... praying for speedy recovery of bava kaka.
just missed !!! next time bava be careful :).
ohh bava!!! allah is always with u... people's dua will save u always from all the incidents, keep the good work up, Please careful next time, change the driver soon,
our prayers are with u bava, u have done very good work in surathkal locality, poor people's blessing is always with u, get well soon
Avoid Hitting a pedestrian, pedestrian kathe govinda.
Rash driving caused this accident, Moideen Bava Should be charged.
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