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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
this boppa,vijay and naren dont hve the clear picture of this RSS and sangi guys so they brak from there side as they blive we all muslims are blongs to terrorist grp thn can they explain abt this RSS and sangi guys wht they are upto they want to divied the country or make a peace loving country. till now they divied the country by the name of religons .
this guys plan same policy which played by british divied and rule this sangi and RSS are born under there rules this sangis helped thm even nw they do the same.
comment #6 wht u written in last line of ur comment this shld b applied for the people inculding sangi and RSS guys aswel
dont blame we muslims we are very proud INDIAN MUSLIMS
we are proud to b an INDIAN more then u sangi and rss guys
and dont blame others first look into u wht gd deed hve u don till nw this for boppa,vijay and naren
Dear Naren
you dont have 70 virgins ...you have to taste only one that too Najas......... Brother Mustafa left this Duniya as Tippu did . and enjoying the favours from the creator . when he was hacked to death by cowards in the dark with the help of Coward fascist police . no problem we are borned for that we do not mourne but his family will curse you and you sangh .
Bopanna and vijay, every one will know your bulsh*t sangi parivar, you are sitting in and posting comments, stupid come out, you go and fight instead of sending poor in rana rang,
Naren, don't post your stupid and bulsh*t comments, come and fight face to face, Israel is your father country they also like you killing innocent people in back door.................ISIS and RSS is the same.....isis will not attack israel because its born from there only..
Ameen
Bupa, vijaya ..Mangalore ( Naren ignored ) ....Guys if u want to know the truth about this case contact the Vakil Dinesh Hegde Ulapady...before barking
So naren kotian,
Then start to attack anti nationalist first from mohan baaghwath, thogadia and so on means rss must be removed from the route. Then only brotherhood will remain in our great country India.
Jai Hind
same third rated guys rejoiced when muslim gangs killed prashanth poojari ... and yesterday one jihadi sitting in saudi , i think by name ahmed ... said next round will be of kiran shetty :) it shows ... and it says everything ... let it be ... i wish all murderers of prashanth poojari meets same end ,i pray to god ... israel policy follow madle beku ... when anti nationalist strike our eyes , we must strike their heart, kidneys ,eyes , liver ... legs and brain ... then only systerms will be back to normal .
Well said Bopanna....these people(so called peace lovers)they only know to blame RSS...
Dear Bopanna,
What about the gather during poor prashanth poojary funeral.All are belongs to anti India criminal rss group.
Karnataka police dept is well aware about all criminal groups. They never bow to any influence or to any muscle power. They kicked your dirty leader Togadia from airport back to his home town hell.
Jai Hind! Jai Karnataka!
Bopanna seems to have too much of hatred towards mulsims despite being and earning in an Islam country
If he hates muslims he has no moral rights to be, where he is currently
A theif's friend will be another theif only.
Let the police keep an eye on all these people who attended the event - a lot of terrorists there I am sure
Masha Allah great .Rest in peac my brother mustafa.
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