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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.
According to a report published in Jayakirana, a Mangaluru based Kannada eveninger on Thursday, the incident took place on Saturday, but it came to light belatedly. The same report was published in Varthabharati Kannada daily on Friday.
Comments
GO RAKSHAK IS AN IMPOTENT TEAM. If they are really worried for Cow. They should come together to punish BJP men. It clearly shows that they are not worried for cow, they just want to get the benefit from cow voters during the election.
Saffron party not worried for cow. They are utilizing cow for their vote bank. If they are real worried then how India reached no.1 position in beef exporting, and modi government gives discount on the import of beef cutting machinary. Hindu people blindly believe their leaders and they utilize their voters like cow.
Complete F A K E NEWS....
Just saying 'According to the reports'......
Register a case IF the REPORT S are TRUE......
WHY hesitating, Aaj Ka Yudhistir?????
saffrons like eating beef very much than other ....
give them cow dung to eat and cow urine to drink. come on go rakashak
chaddigalu saar chaddigalu
Naren go ka mutra peene ko gaya....
Where are go rakshak sangh who usually force like this people to eat Gomuthra and Cowdung ? Why this time they disappear?
Go(ld) Mutra effect....
Everybody knows who are the real mafia. What can we expect from them when they made india no.1 by selling/exporting their so called gowmatha flesh into the international market .
ha ha ha,,naren thailand where are u?
Real face of BJP in india,.
this s totally fake news.
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