Ponzi scam: SIT arrests IMA auditor Iqbal Khan

Agencies
June 14, 2019

Bengaluru, Jun 14: IMA Jewels auditor Iqbal Khan has been arrested by Special Investigation Team (SIT) in the IMA Ponzi scam in Bengaluru, the investigative team confirmed on Friday.

Iqbal Khan, a resident of Frazer town, has been the auditor of IMA for many years.

According to an immigration form, the main accused, IMA Jewels founder Mohammed Mansoor Khan, has flown to Dubai on June 8. As per SIT, efforts are being made to nab Khan.

The 11-member SIT headed by DIG BR Ravikanthe Gowda was formed by the Karnataka government to probe the alleged fraud by the firm, which has an estimated Rs 200 crore investment of Muslim women alone.

The SIT, which is a part of Karnataka Police, on Wednesday, arrested 7 directors of different entities linked to Mansoor Khan, who is accused of allegedly perpetrating financial fraud in Bengaluru.

The accused directors are - Nizamuddin, Nasir Hussain, Naveed Ahmed, Arshad Khan, Wasim, Ansar Pasha and Dada Peer.

The police officials confirmed that over 25, 000 complaints have been filed so far against the company.

It is alleged that IMA Jewels, with Muslims as its prime investors, has not paid interests on investments for the last three months.

Accused Mansoor Khan disappeared after sending an audio clip to some investors threatening to commit suicide due to what he alleged was "harassment" by some politicians and rowdies.

IMA founder Khan, in the said audio clip sent to investors, alleged that rebel Congress MLA Roshan Baig had taken Rs 400 crore and was not paying back. He has, however, refuted the allegation and termed it a "total conspiracy."

Currently, shops of IMA Jewels in Shivaji Nagar are closed.

Scores of investors staged protests outside IMA Jewels' office in Sivaji Nagar, demanding the firm to return their money.

Unfortunately, one of the investors in IMA Jewels died yesterday due to a heart attack. The investor, who has been identified as Abdul Pasha, had invested Rs 8 lakh in the firm for his daughter's marriage. He died in Bengaluru's Sapthagiri hospital.

Comments

ABDUL AZIZ SHE…
 - 
Saturday, 15 Jun 2019

Really very sad people invest in these companies in lakls ,  without having knoweldge

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News Network
January 4,2020

Mangaluru, Jan 4 The International Kite Festival, will be the main attraction of the Karavali Utsav being held here from January 10-19.

Deputy Commissioner Sindhu Roopesh said on Saturday that a variety of cultural programmes are scheduled on the occasion of Karavali Utsav being organized by the DK District Administration at the Karavali Utsav grounds, Kadri Park and Panambur Beach.

Cultural programmes will be presented by budding local artistes of State, National and International fame. All facilities for the cultural programmes will be set up at the Kadri park and Karavali Utsav grounds.

The programme will begin with a cultural procession from Nehru Maidan on 10 January followed by the Inauguration at the Karavali Utsav grounds.

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News Network
May 26,2020

Bengaluru, May 26: After Yogi Adityanath said that no state can take manpower from Uttar Pradesh without his government's permission, Karnataka Pradesh Congress Committee (KPCC) president DK Shivakumar on Tuesday termed the Uttar Pradesh Chief Minister's move as "unconstitutional" and "against the right to freedom of movement."

"Uttar Pradesh Chief Minister Yogi Adityanath's move to restrict hiring people of Uttar Pradesh is unconstitutional and goes against the right to freedom of movement. Mr Yogi, please note that UP is not the private property of your govt. The people of Uttar Pradesh don't need your government's permission to work anywhere in India," Shivakumar tweeted.

"Mr Yogi doesn't understand the basic rules of governance in a democracy. Such actions lack common sense and will only make the people of Uttar Pradesh suffer more. When it's convenient for BJP, it's One Nation, when it's not, it's different states and different people. Heights of hypocrisy," he added.

Adityanath had on Monday said that the state government will provide social security and insurance to labourers and no state can take manpower from Uttar Pradesh without his government's permission.

"If any state wants manpower, they cannot take our people from the state without our permission as there were reports of misbehaviour with them in other states. We are taking full responsibility for labourers' social security. We will provide every kind of security to them including insurance. Wherever they will go, we will always stand by them," Yogi said.

The Chief Minister said that skill mapping is being done in Uttar Pradesh and a commission will be set up for labourers to ensure employment for them.

On Sunday, Adityanath had ordered the formation of a 'Migration Commission' for the purpose of providing the workers, who have returned to the state during the lockdown phase, with employment suited to their skills.

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News Network
April 11,2020

Bengaluru, Apr 11: Karnataka Congress chief D K Shivakumar on Saturda said that he was hopeful that the Karnataka Chief Minister would take stern action against BJP MLA M Jayaram--who was on Friday seen celebrating his birthday with several villagers in Gubbi taluk in Tumkur, in violation of social isolation measures and nationwide lockdown to fight the coronavirus outbreak.

"I am sure that the Chief Minister will take action on all these types of activities. We have already petitioned the DGP. Suo moto case should be registered immediately," the Karnataka Congress Chief told media.

Speaking about the video conference meeting that Congress President Sonia Gandhi held with all Pradesh Congress Committee (PCC) presidents via video conference, he said: "She has given us directions that the party has to play its own role. She said that the party needs to be very active, apart from the government."

With regards to the farmer's struggles due to the national lockdown, the Karnataka Congress Chief said that the farmers are in a 'very grim situation'. "I appeal to all the people of Karnataka that we should go to the fields and discuss with farmers and buy the materials. Let us purchase their fruits and vegetables and distribute them at the village level."

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