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 is not only your question. my question too. that’s why we should end the mhar competition. Otherwise your son also may follow the same path one day.
Masha Allah! it is good to note that some of our brothers brought the globally acclaimed Islamic Scholar to Mangalore.
It would have been more beneficial for the community if the hosts arranged one two public programs in Mangalore and Kasaragod.
Masha Allah Masha Allah happy to see Mufti Menk at our place.Good message to the youth regarding non-competition over mahr.
My Reply to A Mangalorean. Why did your son agree to pay that much Mehr while it was not under his capacity. May be he tried to show his Father in Law that he is also a rich person. Why one should put himself in debt. Now he will have to pay interest on the loan and this is agaisnt the teaching of Islam. We will not put ourself in trouble if we follow simple way tought by our Prophet. May Allah bless us with right way Islam and keep us away from show up.
Hahaha
I m absolutely delighted that Mufti Menk has visited our place and given lecture on Mahr to Manglorean Muslims.
Hoping to see him again and again !!
Good that mufti menk has taken initiative to end mahr competition. Hope it won’t be the beginning of the ‘mufti competition’. Now another NRI businessman in mangalore may think of bringing numan ali khan for next wedding in family (kidding)
Welcome to mufti menk a renowed international scholar to Mangalore. Mufti should advise the rich muslims of coastal Karnatkada to refrain from luxury marriage style with luxury marriage halls and luxury foods.
Unlucky that i was not part of this event. Mufti Sir do visit Manglore frequetly and guide mangloreans who indulged in shirk and diddah... May god bles you, give you good health and long life.
demanding dowry is not islamic culture. he has given series of lectures on that issue. if you want u can google and listen. but what he did here is a timely decision- he pervented show off. why he should talk about non-islamic system of dowry at a wedding where there was no dowry?
A considerable number of Mangalore muslims have adopted the Hindu custom of dowry. But mhar has not disappeared. At the same time among rich muslims there is definitely competition over mahr. This had happened in my son’s wedding too. he had borrowed huge loan to pay a Rs 50 lakh gold as mahr. so I personally feel that Mufti menk’s initiative is good.
Thants Right, instead of speaking about the dowry system which is demanded by the men as oppose to the mahr he is speaking opposite which is very trivial issue in comparison to what a girl's parents suffer.
Barakallau lakumaa wa baarik alaikumaa wa jam'a bainakumaa fee khair. May Allah(swt) bless the new couple. Ameen.
Mahr was never a competition here. Its all peanuts compared to the jwellery the bride wears from her fathers hard earned money. If not that, then its the brand new car in display outside the wedding hall, again brought by the brides father for the bridegroom.
mufti menk has not realised that most of the bearys hav sold themselves to the indian custom of dowry for demand or for self prestige
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