Bengaluru, Jan 18: Amidst the ongoing probe into the multi-billion IMA ponzi scam, another similar scam has come to light in the city wherein around 2500 depositors, most of them Muslims, are fearing that them may lose Rs 350 crore.
Shockingly, Shafiullah, Rafiullah, and Zabiullah, three brothers who run the Baraka Investment Consultant Private Limited, have accused the police of taking over 10 crore rupees bribe from them.
The depositors say that when they recently demanded their investments back from the accused the trio, they allegedly told them that they had paid the Central Crime Branch (CCB) and the RT Nagar police over 10 crores and they could collect that money from the police.
The aggrieved investors alleges that the RT Nagar police have charge-sheeted the three accused only on the complaints of 13 affected depositors who lost precisely Rs 97 lakh and the case is being probed under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978 instead of Karnataka Protection of Interest of Depositors in Financial Institutions Act, 2004 (KPID Act) or the Banning of Unregulated Deposit Schemes Ordinance, 2019 (BUDS) Ordinance.
Aggrieved victims alleged that when the Baraka Investment Consultants had a Registration Certificate of Establishments from Department of Labour issued on November 28, 2017. The CCB took up a suo-motu case against Tellnet Computers on August 16, 2018, after they received complaints from Baraka investors.
Apparently, the CCB knew that Baraka Investment Consultants and Tellnet Computers was one and the same and operating from the same office, but they did not mention the name of Baraka in the case initially for reasons best known to them, said the victims of the Ponzi scheme. A few victims who wished to remain anonymous told BM that a CCB police inspector and one of the accused, Zabiullah, were childhood friends, neighbours and both hailed from Chikkaballapur. This is one of the reasons, they allege, the inspector has protected the accused by downplaying the scam.
The case registered by the CCB states that there are only 500 to 600 depositors who deposited amounts between Rs 50,000 to Rs 1 lakh expecting returns ranging from Rs 5000 to Rs 7000 a month, but in reality there are more than 2500 investors who have deposited amounts ranging from Rs 50,000 to Rs 50 lakh, expecting returns between 12% to 24%, said the victims. Despite this, the CCB was sitting on the case and making no investigations, the victims alleged.
It was later on in May 9, 2019, an FIR was registered by the RT Nagar police when many victims approached the police commissioner and petitioned him. “Even in this case, the accused Zabiullah was not arrested. Zabiullah’s two brothers, Shafiullah and Rafiullah, and his father Abdul Rahman were arrested, but were later granted conditional bails,” one of the victims Mohammed Yahya (42), a software engineer said.
Yahya had invested Rs 10 lakh with Baraka. “Though this case has been charge-sheeted, the police have not made any recoveries or they have not confiscated any properties of the accused,” alleged victim Habibur Rehman (42) who had invested Rs 5 lakh in Baraka. “There is clear-cut evidence that the accused was dealing in foreign exchange using the investors’ money without their knowledge and was offshoring and parking crores and crores in countries like Russia, Dubai, Malaysia, and Singapore. Though the police knew about this, they did nothing to stop it or bring it back,” said Azgar Pasha (44), a businessman who had invested Rs 41 lakh.
Comments
This attack on Karnataka by BJP. Why did not they raid houses of BJP leaders who have become rich after BJP came to power. Reddy brothers are roaming freely and had lavesh wedding of their daughter. IT department are sleeping
Timing is good!!. Each one repeats same in cycle and then they may stop doing corruption. But Indian political population is a strange one and may start bribing each other! Congress also did all kind of tactics! Timing of investigation of corrupt DMK - daughter!
How can congress explain recovery of 10.5 crores cash from the minister's residence?Is it not embarrassing for congress leaders who called the raid witch - hunt?
What does BJP say about corruption of their own leaders. How many raids were given on the corrupt leaders of BJP. There are not hundred but thousand cases of corruption of BJP leaders. Recently in Chhatishgarh, one minister Brijmohan Aggarwal has encroached the government land. A few days ago Chief of Kerala BJP was caught for taking bribe of Rs 6 crores. After demonetization maximum black money was recovered from these BJP leaders. Before demonetization, dubious land deals were executed with their black money as they know fully that demonetization was to be declared by their party.. Black money was recovered from the BJP leader in Punjab as well from Madhya Pradesh leader. Who is funding Amit Shah who is roaming using chartered planes from one place t0 another place. What were the sources of funds during elections either for the Centre or for the states. Admitted Congress is corrupt but BJP is the most corrupt party in India.Wherefrom they got 15 crores to purchase MLAs.
All corrupt politicians are the feathers of the same bird. All are corrupt whether in the ruling party or in the opposition. Some of them are pro industrial and getting unaccountable money to be spent on their rival parties to let down. If any leader is corrupt and facing trial in the court, they either try to purchase the sitting judges or transfer them on the name of promotion. These tactics have been used by Modi Government in Gujarat to have clean chits in Godhara riots.The enquiry commission was appointed to enquire about who were behind the killings of innocent Sikhs, one Mishra was purchased by the Congress party and he was taken in Rajya Sabha.These commission heads are corrupt and working as per directions of the ruling party. How one can get justice. In India justice is denied to poor, downtrodden and minorities. These political parties have cleverly expert to change the facts into lies. They are expert to purchase and threaten others who are disagreed with them
How can there be black money? Demonetisation was supposed to eradicate it.
He's questioning the time, he's not questioning all that money that's been
seized!
"Mr. Shivakumar's mother hit out at Mr. Siddaramaiah accusing him of not
protecting her son."... ideal mother
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