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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
9/11 caused more Americans to embrace Islam.
The same thing happens here, more Truth Loving people start researching the speech of Zakir Naik and will easily embracing Islam.
Indians are more free and intelligent in deciding.
Unfortunately the RSS lead govt can detain him under pretext of so called all allegation, even without proof.
We have some blind law where innocent people become easy prey.
Such law is made to target the people who talks truth against the corrupt leaders.
Laks...Karkala.....
Every one knows you hypocrites are experts in fabricating proofs and give clean chit to criminals ...... Indians can eat indian cow meat in Gulf BUT not in India.... Go to Google and find out the names of Indians in the list of TOP CRIMINALS of the world ....Hypocrite ....
Laks, Karkala
From your frustrated comments i can understand that you are so far from the reality. Not a single proof can indian govt can show against Dr.Zakir naik. Even nobody can have the guts to have debate with zakir naik. so will wait and watch.
Laks, Zakir Naik did not trouble anyone...when he was preaching around everyone lived very happily here in India....He conveyed peace message to everyone...
Dear Altaf,
Dont teach us what to ban...Our present government have enough proof to put him behind the bar...and your lawyer is der to protect him..so leave it to court
Sitting in Doha its easy for you to comment
Basically it is not the matter of scare. In the recent years we have noticed that the Muslims are targeted & put behind bars without any evidence.
Later it is proved that the RSS goons are involved in the terror activity across the country. But they are not booked in any case.
These types of double standard Judicial System makes the Muslims to be away for certain period. I hope very soon Br. Zakir Naik we get justice & start spreading the peace message.
Mr. Zakir Naik's Preaching, Knowledge and popularity not gone well with sick minds, they cannot counter him through dialogue; obviously misuse of power is the solution!!!
Laks, Karkala
If you really wish to see that everyone in india should leave happily then you have to think about banning RSS and sangh parivar. Zakir naik never done anything so that hindus and muslim divide. He always tried to unite all religion. I think you have not listened to any of his speeches. My sincere request with you is to first listen his all complete speeches. Then come to conclusion.
Please watch the below videos. It is available in Youtube
1.Similarities between Hinduism and Islam
2.Similarities between Islam and Christianity
3.Does God Exits
4.Is terrorism a muslim monopoly
Hope after watching the above you can change your thinking from negative to positive .
Over all this is a political game with the backing of rss communal group.
Started to target peace loving INDIANS and Mr. ZN is on top of their list.
There is many more to come from religious leader to business man;social worker; leading person etc.
Instead of 5 years high court need to ban for life time... so that everyone can leave happily in India
ZN is scared..he will not come back to india.. if he was Innocent he could have came back long back ago...
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