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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
Non hoisting of National Flag at Nagpur HQ proves her stand ....
This is what happens when you hurl stones at sleeping snakes.It will go on hissing. Ramya was no where, bjp and their sanghi fools alerted her and now that she is a public figure and given so much interviews. She is absolute justice to herself.You guys threw stones at her and now from the same stone she is building a home for her. Great keep going bhakths. Ramya's followers increased on her official social media pages.GOOD GOING RAMYA..
More people are coming out on exposing the cheddis... people were thinking that cheddis are just patriot but Many people are still unaware of the real agenda and they will wake up when they are already deceived by the cheddis in the future...
Congress and BJP are 2 faces of coin...supporting congress is disaster....both are corrupt party....best thing for Ramya is to join AAP....corruption free party....
Huge Respect Ramya, truly said.
Ramya please stay away from congress this party wont suit you this is really a saffron party of india, if u want more money again start your carrier in movies, here u will get only blood money.
Man ki Baath of all Indian good citizens.
Rammu, recently you look so beautiful! #ISupportRamya
We dnt know BJP or RSS was with british in independence time, but one thing is sure, what Congress looted from india is more than the british rule. Shame on you congress.
ohh exactly thats why congi was ruling india after independence, u r becoming joker of the state, now people understood who were with british and who are with country.
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