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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
aree bhai.... animals are not our parents.... Muslims dont worship animalsss... go and take all cows from your modiji's freinds who are exporting your mata to other countries..... they are in cow trafficking......
How about your uncles of Al Kabeer Beef exporter. Your for uncle is chipanjee so what we will convert as chipanji and stay in jungle.
Stop non sense and be like a human don't try to spoil HINDU religion.
Hope you and your Head quarter manage to understand above message.
I am sure that this bjp leader Ranjit has completely gone mad and it will be better for bjp to kick him out from the party. His baseless + senseless statement will lead to riot. Hence,. he shuld be arrested under terrorist / goonda act immediately. According to scientiest Darwin, human being are coming from apes / monkeys. Based on this, ancistors of this hate monger were apes / monkeys. I would like to know when this hate monger will go to jungle to stay with his ancistors. We will give nice party to him. Why this hate monger is not caring about cows which are let lose in the roads and dying due to hunger. Why dont he take care of them. He is only after the cows which muslims are taking care. As cows are his Matas, he should visit to other countries also to take care of them. Why is not bothered about hundreds of cows being slaughtered for beef export by sangh exporters in Gujrat. Why he has double standard. I doubt he is one of the beef exporters and making crores and low being expressed for cow is a jumla like his Master. Has he dare enough to agitate in front of beef exporting houses in Gujrat. He will be kicked out if he does so. Shame on you guy. Be a human being first. Live and let live others. There is limit for everything . Dont cross the limit.
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