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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
when a human being brutally killed, people are talking based on religion...... shame on you guys...... see his face.... it is the height of the cruelty... may his soul rest in peace
ARUN KUMAR
DUBAI
Idiot YOGESH, don't just say what ever you get into your mind, I work for RSS & MRM, You should know the fact that Ismail nelyamajalu used to visit tirupathi lord balaji for darshan with his family once or twice a year, he also used to conduct jathara(festival) at a temple in sullia, DK, every year. He was a very kind human being more than a muslim & a politician.
A very good husband, father, brother and a friend, I personally know him since 2013.
Please know the facts before you bark.
Naren, you did not explain what is 72.....you are just making bow, bow,..... you are free to take action against any one making hate comments .....
Dear mr SK ,mr true Indian ...police commissioner alla even DIG bekadru complaint kodi ...mr viren ,bopanna and yogesh and including me have the right to comment ..its not a social media like Facebook and twitter to lodge complain ...this is strictly controlled by admin ......cyber cell will also check anti Hindu comments too ..do u think we will keep quiet ...? We also know laws ...how we can sit when our patriotic organisation like sangh is mocked ...so better mind ur business ...better u talk to CD ...being a responsible media they are responsible for posting news which don't instigate ...but they are not doing ....
Naren, singapore ..what is this figure of 72 ... can you explain further ????
True Indian, Mangalore...it is better to report such matters with mangalore police commissioner,Mr chandrashekar....
Frustrated Brothers Naren And Viren.Papa pandu.Day is not far to pay for all your Comments.In sha allah.We give damn to all your Comments.Carry On.
Papa athmakke shaanthi sigali ..mele 72 virgins sigali .........yelli faizhal Bhai kaanistha illa .....banree \ innu illari rajiwoon antha helree \""
Coastal Digest please do not entertain Brother Viren's Such Comment which disturbs the readers or else we will have to complain against him with the Cyber cell.Please take this message seriously.
Death is not a disaster simply a passing from this world onto the next. It should make us reflect and ponder about the purpose of the life and what will become of us after death. Innah ilahi wa inna ilaihi rajihoon Deep condolence insha Allah grant him forgiveness and higher in heavens. Ameen
I have conducted a survey of Friday murders in coastal Karnataka. Especially immediately after or before Muslims special prayers. 99% of such murders are committed by Muslims only.
So Yogesh is making a confession that BJP is behind this murder ?
Shocking incident, he was really a prominent leader of congress. anyways rest in peace.
May his soul rest in peace
whoever made this brutal crime must be punish them in the like same. seriously a inhuman act.
How people can b so cruel? Y can't we lead our four days of life happily. Inna lillahi wa inna ilayhi rajioon.
Innalillahi va inna ilayhi rajivoon
Innalillah
Inna lillahi wa inna elaihi rajiwoon.
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