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
March 30,2020

Bengaluru, Mar 30: Karnataka Chief Minister BS Yediyurappa on Monday appealed to people to strictly follow the restrictions in the state, saying that the ending of 21-day nationwide lockdown imposed to contain COVID-19 depends on how the public adheres to the rules.

In a press statement, Yediyurappa appealed to the people to help the government to prevent the spread of coronavirus by strictly following the lockdown.

"People of Karnataka are known for tolerance and patience. They are law-abiding citizens. Now, the lockdown in wake of coronavirus is a testing time for them. It has come to test the patience of our people, especially the people of Karnataka. Prime Minister Narendra Modi himself has apologized and said that lockdown was an inevitable step taken by the government to protect people from the pandemic. We have to realise the predicament of a prime minister who always cares for the well being of the country and its people," the statement quoted Yediyurappa as saying.

"At this hour of crisis, it is not good on our part to come out of houses and violate the curfew. The ending of lockdown depends on strictness with which one follows the curfew and maintain social distancing. If one follows the curfew strictly, the lockdown period will automatically end on April 14. Whether to end the lockdown or not is in your hands," he said.

The Chief Minister urged not to test the patience of police, saying, "Already our police are under stress as they are working without any rest. Do not force them to use the force and later blame them for stern action."

He also appealed to follow the lockdown provisions and stay back in their home.
"The government has taken all measures to maintain the supply of essentials and food to the needy. Consider this situation as a blessing in disguise and spend your valuable time reading books which in turn will boost your knowledge and intellectual capacity. My earnest request to even the poor is spending your time by involving yourselves in creative activities inside your houses," Yediyurappa said.

"At the same time, it is time for us to respect the sacrificing work of the doctors, nurses, health staff and civic workers who are working round the clock to save the lives of hundreds of people affected by coronavirus. My appeal to you all strictly follows the curfew rules and maintains the social distance to combat COVID-19," he added.

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coastaldigest.com news network
May 24,2020

Udupi, May 24: As many as 23 people tested positive for coronavirus in Udupi in past 24 hours, according to the latest bulletin released by the health and family welfare department.

While 18 were tested positive till noon, five more tested postive by evening.

With this the total number of covid-19 cases in the district rose to 76 including a death. Three have recovered. There 72 active cases.

Among 23 fresh cases, many had reportedly come from Maharashtra. A 44-year-old woman had returned from UAE. A 26-year-old man returned from Telangana.

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News Network
February 5,2020

Kasaragod, Feb 5: The customs officials has confiscated 15.5 kilograms gold from a car at Bekal near here on Wednesday.

Sources said, acting on a tip-off, the customs sleuths intercepted a car at Bekal, and seized the yellow metal which is being smuggled by the occupants into Kerala.

The police also managed to arrest the two youth identified as Khetan (29) and Akash (23), both natives of Maharashtra. They had hidden the gold in the cushion. 

The accused confessed that the gold was being transported from Thalassery to Maharashtra illegally. The custom officials are investigating to find others involved in the case.

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