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
Congratulation Harinath!! all the best for your future plans.
So many rejected votes that means so many elected representatives whichever party they belong not educated enough at least how to vote. One who vote them has to be blamed. what work they can do for the betterment of the society. The majority of the winning candidate to knows raise two fingers only while they win.
jai jai BJP, Congrates Sumithra all the best.
Congratulations & All best wishes to our New Mayor harinath. Let Mangalore develop under your leadership.
Congratulations to deputy Mayor too. jai ho congress.
Look at our Photo obsessed congress leaders of Mangalore namely Bava & Vinayraj. Pushing and posing is their birthright.
Give first priority to invent Cancer (communal riots) treating medicine which is taking lot of innocent lives in Coastal area due to some dangerous virus spreading it. If you succeed in this you will be remembered as a best scientist in the History.
Congratulation......Keep going...All the best.
Congratulations to the newly elected Mayor and Deputy Mayor.
Finally we got a mayor.
Congrats to both of you.
Congratulations on being elected as new Mayor for MCC. Do your best to take this city as the best city in the state.
Hope new mayor won't use dhow as done by earlier mayor during flood..as a joyride..!!
Congratulations harinath, you deserve this after serving long years and we look forward your good works and smiling face.
Next What????? making money ya making developments?????
Congratulations Mayor and Deputy Mayor. God bless you both and all the best
Congratulations harinath, I am sure you will work for the development of Mangalore, specially on drainage and drinking water. May God be with you and grant you good health to work for the welfare of the people.
All credit goes to Khader, Lobo, Raikulu.....Congis worried about vote bank as all states are sweept by BJP and they are looking to retain Karnataka with the help of Minorities!
This is your mission to serve the city without looking your pocket, but serve the city with selflessness.to maintain safety in the region......don't look for the party and religion but serve as human.All the best
Please work enthusiastically, united, share each other, bring amicable solution for the problems,include innovative practices, future plans, keep vision Goal and mission.
Unnecessary Politics. Groupism should be banned. It is very unhealthy in the community.
Election is over. Sink your differences. All the members have the mandate to work together as a NEW TEAM to the steady growth of the MCC at the out set of the financial 'crisis. I wish all the best to the new mayor
All the best to the newly elected mayor of MCC. Hearty congratulations to all,
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