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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coastaldigest.com news network
May 19,2020

Udupi, May 19: Within minutes after health and family welfare department announced four fresh covid-19 cases in Udupi district, a girl who had come from central part of Karnataka tested positive for the coronavirus thereby taking the count of cases detected after last evening to five. 

With this the total number of confirmed covid-19 cases in the district rose to 16. Three among them have recovered. One patient died last week. There are 12 active cases. 

According to sources, the 17-year-old girl from Chitradurga had visited KMC hospital in Manipal for cancer treatment on May 16. 

Her throat swabs were sent for corona testing on the following day. Today she obtained a positive report. Hence, she was shifted to Dr TMA Pai Covid hospital.

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coastaldigest.com web desk
June 7,2020

Mumbai, June 7: As the Maharashtra government has given green signal for outdoor physical activities under 'Mission Begin Again' despite amidst growing cases of covid-19,  thousands of Mumbaikars flocked to Marine Drive for 'morning walks' on Sunday.

People were seen wearing masks as a precaution from the novel coronavirus pandemic, however, from the viral photo, it seems that no social distancing norms were followed what so ever.

"Better call it marne waalon ka drive," said a Twitter user. "Still people have no sense of responsibility," said another Twitter user.

After nearly 80 days of lockdown, Mumbai and other parts of Maharashtra revved back to life on Friday. 

Most markets, market areas, commercial and trading areas - barring malls or market complexes - reopened for business even as Chief Minister Uddhav Thackeray reiterated that "people should tread cautiously while beginning a 'new life' from today".

Meanwhile, of the total 82,968 cases in Maharashtra, Mumbai now accounts for 47,354 cases and 1,577 deaths.

On Saturday, Maharashtra reported 120 deaths, including 58 in Mumbai, due to COVID-19, taking the overall number of fatalities to 2,969, state Health department said.

The recovery rate in the state stands at 45.06 per cent and the fatality rate at 3.57 per cent, an official statement said.

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News Network
June 7,2020

Bengaluru, Jun 7: Suspense over JD(S) patriarch HD Deve Gowda contesting the Rajya Sabha polls from Karnataka with Congress' support continues as KPCC president D K Shivakumar on Saturday said the party has fielded one candidate and the high command will decide on what do with surplus votes.

Mr Shivakumar also said his official takeover as party state unit president is likely to take place on June 14.

"Whatever our national leadership will decide... For now we are fielding only one candidate, regarding surplus votes whatever our high command says, we will abide by it," he said in response to a question about supporting Deve Gowda.

Polls for four Rajya Sabha seats from Karnataka is scheduled for June 19.

The Congress, which can win one seat with its strength in the assembly, has fielded veteran party leader Mallikarjun Kharge as the candidate, while the BJP is yet to decide on candidates for two seats it can win.

The JD(S), which has 34 seats in the assembly, is not in a position to win a seat in Rajya Sabha on its own, and will need support from one of the national parties with their surplus votes for this.

Minimum 44 votes are required for candidates to win.

Speculation is rife that congress is likely to support JD(S) with its surplus votes if the regional party fields Mr Gowda, and in return may seek favour during legislative council polls slated later this month.

Though JD(S) legislators are of the unanimous opinion that Mr Gowda should contest Rajya Sabha polls, the 87-year-old leader is said to be undecided and weighing options.

If he contests and wins, this will be the second Rajya Sabha entry for him, the first time being in 1996 as Prime Minister.

June 9 is the last date for filing nominations.

Stating that on June 8, Mallikarjun Kharge will file his nomination for Rajya Sabha polls, DK Shivakumar requested party workers not to come to Congress office or Vidhana Soudha, where the nomination will be filed, because of the COVID-19 pandemic.

"Let your love and affection continue, but let's not create problems by gathering here. After the election is over, and once he (Kharge) wins, you can greet and congratulate him. Let's not bring a bad name to his seniority for not maintaining social distancing by gathering," he said.

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