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.

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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
June 22,2020

Bengaluru, Jun 22: Senior Congress leader BK Hariprasad and BJP’s MTB Nagaraj, one of the defectors who helped the saffron party come to power in Karnataka, were unanimously elected to the Legislative Council along with five others on Monday. 

All seven were declared as “duly elected” by Legislative Assembly Secretary MK Vishalakshi, the returning officer for the biennial election to the Legislative Council. 

Hariprasad and Naseer Ahmed of the Congress, Nagaraj, R Shankar, Prathap Simha Nayak and Sunil Vallyapur of the BJP and Govinda Raju of the JD(S) are now MLCs. 

While Ahmed was an incumbent who will get another term, the six others will replace Jayamma, MC Venugopal, NS Bore Raju, HM Revanna and TA Sharavana and DU Mallikarjuna whose term ends June 30. 

While an election was scheduled June 29, it was not necessary as only seven candidates were in the fray for the seven seats on Monday, which was the last date for withdrawal of nominations. The nominations of A Yadavanahalli PC Krishnegowda and Mandikkal Nagaraja were rejected. 

With their rejection as MLCs, Nagaraj and Shankar - who jumped ship to the BJP last year - will now look to become ministers in Chief Minister BS Yediyurappa’s Cabinet. Both Nagaraj and Shankar were ministers when they resigned and defected from the Congress-JD(S) coalition. While Nagaraj lost the December 2019 bypolls, Shankar did not contest. 

Nagaraj, Shankar and Vallyapure were Yediyurappa’s picks for the Council, whereas Nayak is said to have been backed by BJP state president Nalin Kumar Kateel. 

There were many aspirants in the Congress for the Council berths, but Hariprasad and Ahmed were picked, given their experience. Hariprasad is widely believed to counter Siddaramaiah, who leads the party in the Assembly. 

Raju of the JD(S) runs a poultry business in Kolar and the choice of a fresh face is seen as the party leadership steering clear of any trouble as there were many asking for the ticket. 

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News Network
June 3,2020

Koppal, Jun 3: Opposition Leader in the Karnataka Legislative Assembly Siddaramaiah on Wednesday said that allegedly there was deep crisis in the state BJP but categorically denied any role of Congress in it.

Addressing a press conference here, the former Chief Minister said 'I and my party have nothing to do with the developments in the ruling party. I came to know through media that some 25 BJP MLAs allegedly not satisfied with the way of functioning of the government. The Congress party is not interested in what is happenings in BJP and if the government falls on its own, then Congress might stake claim to form the government eventually".

Mr Siddaramaiah alleged that the State’s BJP government was trying to 'subvert the Constitution and Panchayat Raj Laws' by postponing election to Gram Panchayats citing spread of COVID-19.

'The Commission has not provided any information so far about the preparation of electoral rolls, fixing of reservation to seats, and calendar of events for holding elections. It is the duty of the Commission to hold elections as per the Karnataka Gram Swaraj and Panchayat Raj Act,' he further said.

The EC on May 28 postponed elections to GPs citing 'exceptional circumstances' prevailing in Karnataka following the coronavirus pandemic situation. Elections to as many as 5,800 GPs scheduled to be held by next month with the ending of their terms have been put off, and fresh dates were yet to be announced.

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coastaldigest.com news network
June 24,2020

Udupi, Jun 24: Nearly four years after he was arrested in the murder case of NRI entrepreneur Bhaskar Shetty, the District Sessions court has granted conditional interim bail to Niranjan Bhat, one of the three prime accused in the case.

The development comes two days after the death of Niranjan’s father Srinivas Bhat(65). Though Srinivas and his driver Raghavendra were also arrested in the case on the accusation of destruction of evidence, they were released within a month.

Through his lawyer Niranjan had appealed to the court seeking bail to perform his father’s post-death rituals. 

After hearing the arguments, the court granted conditional interim bail till July 7 on furnishing a bond of Rs 5 lakh. The judge directed the accused to report to the court on or before July 7 to be taken into judicial custody.

Bhaskar Shetty, who owned a chain of supermarkets in Saudi Arabia, went missing from his house in Udupi on 28 July 2016. His mother Gulabi Shetty lodged a missing person complaint on July 29. The police arrested his wife Rajeshwari, her son Navaneeth and astrologer Niranjan Bhat on the charge of murdering Bhaskar Shetty and destroying the evidence, in Udupi on August 7, 2016. Rajeshwari is already out on bail. Navneet is still in prison.

Shetty was murdered at his house in Indrali and later his body was taken to Belman. It is alleged Niranjan Bhat had put the body of deceased Bhaskar Shetty in the pit used for Homa rituals and burnt it.

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