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
February 29,2020

Bengaluru, Feb 29: A Lingayat seer on Friday threatened to get 10 BJP MLAs to quit if Karnataka Chief Minister BS Yediyurappa does not make MLA Dattatreya Patil Revoor a minister soon.

"If Yediyurappa does not make BJP's Gulbarga South MLA Dattatreya Patil Revoor a minister, I will get 10 ruling party legislators resign and reduce the government to a minority, forcing the Chief Minister to resign," said Srishaila Saranga mutt seer Deshikendra Swami at a meeting in Kalaburagi on Friday.

Addressing a gathering of the Lingayat community, to which Revoor belongs, the seer said although he wanted Yediyurappa to complete the remaining 3-year term in office and the BJP to return to power after the next elections, it would be difficult for Yediyurappa to continue if Revoor is not made a minister.

"Yediyurappa will be in office for the next three years if he makes Revoor minister. If not, I will ask him (latter) also to resign, as does not need to be in politics anymore because he has a house, many acres of agricultural land and is very rich," the seer told the gathering in Kannada.

In his nomination to contest in the May 2018 assembly elections, Revoor (37) declared in an affidavit Rs 17-crore assets, including immovable properties.

Wishing Yediyurappa to remain in office for the next three years and return as Chief Minister, the seer said if Yediyurappa is forced to quit, then the Lingayat community would not get an opportunity to have its leader as Chief Minister again for at least 30 years.

Yediyurappa, whose constituency is Shikaripura in Shivamogga district, is considered the tallest Lingayat leader of the politically powerful community, which accounts for 18% of the 6.5-crore state's population.

Though a dozen BJP legislators won from the erstwhile Hyderabad-Karnataka region in the May 2018 Assembly elections, only Prabhu Chauhan from the adjacent Bidar district was made minister for animal husbandry.

The Saranga mutt seer’s threat comes a month after Veerashaiva Lingayat Panchamasali seer Swami Vachananda, dared Yediyurappa to make 3 of the community legislators ministers ahead of the second cabinet expansion on February 6.

At a Lingayat gathering in the state's Davengere district on January 15, Vachananda told Yediyurappa to make party's Bilgi legislator Murgesh Nirani Minister, failing which the community would withdraw its support to the ruling party.

Hiryur is about 300km northwest of the southern state's capital Bengaluru.

Ticking off the young seer, a defiant Yediyurappa, however, threatened to walk out of the meeting if he was blackmailed for making Lingayat MLAs ministers.

"You cannot threaten me saying your sub-sect (Veera Shaiva) community would not support the BJP in the next assembly or Lok Saba elections, due in 2023 and 2024," retorted Yediyurappa, reasserting his status as the community's strongman in the state.

In the second cabinet expansion, only 10 newly elected legislators who defected from the Congress and the Janata Dal-Secular (JD-S) were made ministers, leaving 6 posts vacant in the 34-member ministry.

In the first cabinet expansion on August 20, 2019, 17 party legislators were made ministers. Nirani and others, who were present on the dais, pacified Yediyurappa to take his seat and requested the seer to avoid making political speech on such occasions.

"The chief minister threatened to resign than succumb to pressures from religious or community followers," a party official told media.

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News Network
July 19,2020

Belagavi,  Jul 19: In a heart-wrenching incident, a woman used a pushcart to take the body of her dead husband to the crematorium after she allegedly did not receive any help from relatives who suspected him to have died of Covid.

The woman and her son were seen pushing the body in the Athani thaluk of Belagavi.

The man had died two days ago at his residence and no family member apart from the close members attended the last rites due to the fear that he was COVID-19 positive.

It was later found that the deceased person was COVID-19 negative.

A total of 3,693 new COVID-19 positive cases and 115 deaths were reported in Karnataka on Friday, said the state health department.

The total number of COVID-19 cases in the state is presently at 55,115, including 33,205 active cases. While there are 20,757 recoveries, the death toll stands at 1,147.

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News Network
March 23,2020

Bengaluru, Mar 23: Karnataka Home Minister Basavaraj Bommai had warned those who chose to defy the lockdown order clamped in nine districts, to prevent the spread of the dreaded COVID-19 virus in the state. 

Speaking to newsmen, he said, "We have ordered for a lockdown in nine districts in the state to prevent the spread of the coronavirus and issued guidelines to follow it."

The nine COVID-19-affected districts are Bengaluru, Bengaluru Rural, Mysuru, Kodagu, Dakshina Kannada (Mangaluru), Dharwad, Belagavi, Kalaburgi and Chikkablapur.

According to Mr. Bommai, the State government will put in place further measures next week depending on how the situation will unfold in the State and the neighbouring States.

"Government offices will be operational in the State, including in the nine COVID 19-affected districts. As per the current schedule, the legislature sessions will also continue. Pourakarmikas will be working at 50% strength," he added.

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