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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
Rakesh
why sit in DOHA come to INDIA and start \Swatch Bharath\" before that clean your \"dirty mind\""
nationals=those are protest peacefully .
anti nationals=beating the people, taking law in hand, not respecting supreme court order,abusing people.
now decide who is antinational.
Dear Mohammad and Syed Jubail, Every one has a right to say his opinion or comment on any issues. so please refrain yourself from wrong comments.
Thanks to PFI to register their unhappy on Ananth statement against Islam and Muslims.
#4 RAKESH DOHA, BE CAREFUL YOU ARE NOTED BY PFI ACTIVISTS FROM DOHA.....DONT COMMENT SUCH A HARSH WORD TO MUSLIM COMMUNITY....
Rakesh Doha, Kindly refrain from commenting against muslims as you are in a muslim country and should be thankful that your daily bread is coming from muslims. First clean your thinking SWACH BRAIN
Sagar & Rakesh please give one anti national activity of PFI...
But for RSS so much available....Sindhagi flag, major bomb blast - Ajmer Dargha, Mecca Majsid, samjota Express, demolition of Babri Masjid and lot more...
We all knew after Modi government u all people are frustrated....u all require a change now better all chaddi gang migrate to Nepal because no one will disturb u there...
azadi from PFI, well known anti national group, let me give one example if your true believer of god your should support all the religion. bhagwan commented against hindu god !!! if u people are not anti national u have to protest against that also. clearly pfi related all people and groups are anti national. if u want a wonderful national please avoid protest against the one who commented on u, your god, protest against effects on each and every one,
KICK OUT RSS FROM THIS BEAUTIFUL COUNTRY....THEY DONT DESERVE TO BE A PART OF THIS LOVELY COUNTRY.......I LOVE MY INDIA
I HATE RSS IN INDIA
WE WANT AZAADI FROM RSS, VHP,BD SRS, ANTI NATIONALISTS GROUP....
SAVE INDIA FROM RSS
PFI is only hope for the future
People criticise only those who work for the community....as you see that RSS was attacking MULIMS verbally and physically ....but time has changed .....it now attacks verbally PFI (as it has no guts to face PFI physically) because PFI fight to the limit against any elements which is against our constitution and against any Fascist so called Powers and against Anti nationals like Muthaliks who hoisted Pakistan flags
by the way we forgot that Govts taken the Sindhagi Flag issue than JNU fake slogan issues...this is real Fascism
come on people ...dont here gossips against Popular Front of India ...its all Gossips either from So called Secular Muslim leaders who for their self interest go against it ...or RSS who are seeing PFI as thret to their ultimate Goal of Brahminism INDIA
u guys cannot do anything , what happened to baby nirbhaya ( fake case) , all people know about your community mentality .instead of do some good job like swach bharath . we dont see no proactive lead taken by muslim community on this part .
guilty must be punished, good luck pfi u will get justice.
anti national protest, anti national party of india.
PFI doing good protest, protest till ananth gets maximum punishment.
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