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Bengaluru, June 24: City-based I Monetary Advisory (IMA), which duped thousands of families, mostly Muslims, in the name of halal investment, has become a bitter reality of "we were robbed by our own people". All the accused except its CEO Mohammad Mansoor Khan have been released on bail in this ponzi scam worth thousands of crores of rupees.
The scam has not only been investigated by SIT and CBI, but it has reverberated many times in the Assembly, corridors of power, and in the courts.
Around 80,000 investors are in trouble after the Monetary Advisory (IMA) scam came to light. Many investors have left this world, many families have split, many marriages have broken down and many have become unemployed, homeless, helpless and hapless. One of the senior IAS office, who had faced arrest in the scam, reportedly killed himself just a day ago.
It has been more than a year since this multi-billion scam came to light. But the affected families still do not see any ray of hope. The government, led by senior IAS officer Harsh Gupta, has set up a special competent authority to address investor grievances in the matter.
According to information provided by Harsh Gupta, investors have to be paid Rs 2,900 crore. But the value of the company's assets seized so far could be around Rs 450 crore. The process of auctioning the assets has not started yet. The authority has developed an online portal for submission of claim forms from investors. But the process of taking applications has not started yet. Syed Gulab, a social worker overseeing the case, says that after all the claim forms have been submitted, we will get a clear picture about the exact number of investors and the total amount of arrears. But this process may take a few more months to complete.
Senior journalist Maqbool Ahmed Siraj says that IMA has systematically deceived people in the name of halal investment through capital scheme. In 2006, Muhammad Mansoor Khan, a one-time small businessman, set up a company. He began to attract large number of investors by creating the greed for more profit among middle class and poor people.
By 2015, the company had received money from more than 12,000 investors and continued to pay monthly profits. By the time the company closed in 2019, 80,000 people had invested their hard-earned money here. In Bengaluru, the company expanded its reach by investing in two major gold showrooms, hospitals, schools, several medical stores, a publishing center, a supermarket, and real estate firm.
Mr Siraj says that Mansoor Khan and his team not only lured the poor and middle class to pursue their own interests but also created a favourable atmosphere for their so called business by winning the hearts of politicians, government officials, clerics, religious institutions and media.
Unsuspecting people invested their money in a bid to make more profit in less time. When the company stopped making profits and Mansoor Khan suddenly fled on June 9, 2019, the investors woke up the to the reality.
Apart from residents of Bengaluru and other parts of Karnataka, people from Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra other states also have invested their money.
Comments
Ley ali ...4 options kottu ...72 mele sigathe antha heli ...massage maadsi ...kaas kottu ... masha Allah ...antha helisbahudu ankondiya ....hahaha ..antha tapori alla kanayya ....naren kotian daaaaaa.....
Masha Allah
Naren will accept Islam by next year, insha allah.
His new name will be Muhammed Naren.
Naren,
Muttalrige estu helidru artha agalla, avarige avaradde raga,
We have thousands of Indian nurses working in Saudi Arabia mostly from Kerala and mostly non-muslims, But, only a very little percentage have changed their faith,
What you are mentioning here is all false, bogus and baseless,
Inchu illah ..massagu illa ...I have seen plenty of filippinaa and Nepalese who shifted to Singapore and Thailand after working in Saudi. ..to gain benefits they do ..non Muslim find difficult to get benefits when compared to jihadist...so it is temporary ...once they are back they are back to boom boom style ...I have met 2 escorts till now from Philippine . ..both had Muslim name. ..business ge ashte ...women nurse galu Saudi nalli kelsa madakke first convert agbeku ...illandre ...hardcore patients muttiskollodilvanthe.... Haha...even I have learnt about Islam and have one pseudo name to deal with Muslims ....it is purely for business's... Bari incoming alla swamy....outgoing bagge Matadi ...haha.. .u want me to show iskon Muslims ?
Syed,
When the people who associate partners with ALLAH revert and Worship ALLAH alone... They are already be forgiven for their Past Sin. ALLAH is most forgiving and most merciful....
May Allah forgive us and make us one of the inheriters of the Jannah.
ALHAMDULILLAH, MAY ALLAH SWT INCREASE THEIR IMAAN.AND FORGIVE THEIR PAST SINS. AAMEEN
Islam is the only religion accept by the almighty ALLAH (God) . Please make a research Y God accept only ISLAM. There is a life after death... We Muslims know that and U never understand this cos the Guidance comes only when U learn about the CREATOR who created U, ME and all that EXists...
Read QURAN with translation... U can also check online , i prefer Quranproject which is well explained to those who dont know about ISLAM and the one GOD who is the God of all that exists.
Finally Read it and U also have the choice to accept it or Not ... There is no compulsion in Religion... (What a better way Allah gives u the choice to accept it or not)
Islam is a true religion there is no place in Islam for Nama, Rama, Duma, Thoma and Roma all the prayers for Almighty Allah and leave and live for Allah, this is not only in Saudi all Muslim countries Non Muslims attract to Islam, one who see true Muslims and their believe in Allah they accept Islam..Insha Allah Islam will spread every where. Non believers and terrorists who do terrorism in the name of Islam will disappear one day Insha Allah
Dear Brother Ahmed, I agree with your comments.. But we cant throw stones for all dogs which keeps barking on roadside right? Bolney waley bolney do jo aney waley ayengey.. Cos Islam is such a religion if one non muslim goes deep into Quran he will not be non muslim later.. In Sha Allah many more to come in future
AlHamdulillah
Allahu Akber
Ma Sha Allah.. Welcome to Islam brothers and sisters.. May Allah bless you and all..
Burnol Bhagya for some :D
This kind of news will give sleepless nights to Sangh Parivar, Now they will come up with the comments like:-
It's done by the force of sword
It's for Jehadi purpose
They accepted Islam for monetary gains
Blah, Blah, Blah
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