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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
Sngha parivar sarkar and Corporate pulled India 10 years back and Looting India by increasing price for oil, gas and other products, neglecting farmers, unorganised sectors, drop in GDP, high cost living, middle class people dropped thier status to poor category, no planning comision, no pancha warshika yogana.....
for common people India became hell and totally frustrated. Rulers are wwasting time to divide india in the name of religion instead of working on developments. Uneducated and stupid personality like him ruling India including burocrates. qualification is not a eligibility to rule in India. Only hate mongers are selected for all the positions. We cannot blame them as the great fools are Peoples of India repeatedly electing hate mongers. will dream "acche din ayega" jai hind
Who he is "BASTURD" chopping finger; if it is against "Stupid modi"
Cheddi sandesh spotted..!
Well said mr. Nityanand Rai. Unculture Indian people dont know how to respect our hon. PM
I am rising my middle finger against Modi. Fool. Chop my finger
If you talk againts INDIAN constituiton ready to face the worst or public may drag you from the position.
Modi is the PM elected represnetative not a God. World has seen several dictators and thier worst end.
So suggest not to jump.
All the comments all we hear is the man agenda and advise from Nagpur else who will talk such anti INDIA slogans.
The more U bring people to do EVIL , the more, RSS will reward the bow bow leaders. and a fact done with the devils to destroy the young hindu generation to do evil in the society.
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