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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
Dr Zakir naik' s naik controversy is bound to happen due to his increasing popularity around the world for spreading peace. Our hypocrite politicians and news channels and their blatant liars like Arnab goswamy do not want peace makers in the society as it wont help them to accomplish their agenda. Dr Zakir naik never breaks any law of the land and always preached the truth.. Quran is the only religious book which specifically and strongly condems killings of innocent people. Dr Naik will have the help of Allah no matter how hard the media tries to malign his name. May Allah be with you Dr Zakir bhai and all Muslims. Ameen.
Bopanna, if you are real hindu, and against these muslims, how you can work in muslim country? By working there you are helping these People. So resign immediately and come back to india. Let us see your real Hinduism. For the money you will do everything this is the fact. If you don't resign then don't blame them. Instead accept their religion and live with them.
Mr.Bopanna.... please be careful on what you comment.. know the facts and provide sources before spitting out sensitive words...
Islam exists for more than 1400 years and terrorists less than 50 yearsss, if Holy Quran teaches to kill Kuffars as you say then I am surprised that not 1% of the world's killings is done by Islam....
There are more than 2 billion muslims in the world and is 30% of the worlds population.... if we all muslims become terrorists then jerks like you would have vanished in minutes... but no, our religion doesn't teach that.... no where we are thought in Quran to kill kafirs or non muslims than helping them....
IF ISIS, daesh or any terrorists organisation u label them as muslims, then u are ignorant, illiterate and an idiot.... can u not see the recent blast in baghdad killed more than 220 muslims, turkey more than 40, Ksa recently.... how an earth a terrorist can kill muslims if his target is kuffars....are the terrorists idiots enough to make out the difference is religion....Terrorists has no religion and ISIS,Daes or any group of idiots are not a part of our holy religion which promotes peace....not killings
Non muslims are just scared of ZN coz of the conversion ratios of non muslims into Islam....I doubt any of his videos have thought or inspired any one to become a terrorists... none of them I have seen... If he is then I will never be his supporter but if he is not then please dont comment unnecessary things in social media.... without a valid source....
Surprisingly u seems to be a reisdent of KSA.... how on earth with somuch hatredness within yourself can work in a muslim country abiding all muslim laws... and enjoy the incomes of muslim ruled companies, Money changed ur mind and developed tolerance with u... lol...
Brothers... dont blindly believe media as most of the storie are fabricated.. there is story behind what media portrays... Islam is never a religion of killing but a religion which promotes peace and condemns killing....
i strongly beleave this game is being played by sri sri ravi shanker... he was bashed black and blue(exposed) by dr zakir some years back in frount of a very larg croud and whole world came to no about his truth that he is nothing but just a fake god man.... am very sure when dr zakir nayaks isseue goes to the cort he will come clean.... its just that people cant defeate his through debates so they r using all other means to defame him... sri sri if u r a man (whuch i dought) defeate him by debating him not like this.....
All critics of ZN should watch his video preach.
They should compare these with other hate mongers speech can realize who is who?
Asatyameva Jayate, yes you are a terrorist no doubt. All Muslims are terrorists since they abide by the Koran - which asks to kill all Kuffars. Koran shuld be banned and all Muslims Jailed
Every Hindu or Muslim once took a oath in school......... every Indians are my brothers and sisters..... if one of them become terrorist can we arrest the whole nation as their relatives.....ha ha.....
If a rapist or a terrorist is inspired by any god book religion or any person are you going to ban or arrest them all......joke hai yaar.............
I am inspired by dr. Zakir Naik and also some good words from some Hindu purohits. Am I going to be a terrorist???
Indresh Kumar's Sufism more active in Bangladesh....!
Does India ever taken against Indresh Kumar who accused in Samjoutha Express and Pakistan asks us to take action against him? Why much eagerness in what Bangladesh's baseless demand?
Those who can't face ZN on talk or debate, obviously they go for backdoor to defame ZN. Modi's popularity going down in day by day and also UP elections ahead, so this 'inspire' story has more depth to divert people's attention. RSS pracharak and terror accused Indresh kumar founded modern Sufism and using the same Sufism against Islam. US did the same in Iraq, Libya, Syria, Pakistan, Afghanistan to destroy Islam by 'Muslims'. Muslims are scapegoat of divide and rule either by western country or India.
Some so called our scholars also knowingly or unknowingly victim of Sufism to defame Islam and against ZN.
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