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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 31,2020

Mangaluru, May 31: A yellow alert has been sounded in eight districts of Karnataka, amidst the Indian Meteorological Department’s (IMD) prediction that the low pressure area formed over Arabian Sea and Lakshadweep may to intensify further into a cyclonic storm.

The yellow has been sounded in Dakshina Kannada, Udupi, Uttara Kannada, Chikkamagaluru, Kodagu, Hassan, Shivamogga and Chamarajanagara till June 1.

Moderate to heavy rain is expected to lash parts of coastal Karnataka today and tomorrow. 

The IMD has assessed that the situation is favourable for the onset of southwest monsoon. In view of the enhanced cloud cover and the deepening of southwesterly winds up to mid tropospheric levels, the southwest monsoon advanced further.

The IMD has also advised fishermen to avoid fishing in west coast of India from May 31 to June 4.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 24,2020

Kalaburagi, Feb 24: Former Karnataka chief minister Siddaramaiah on Monday alleged that dissatisfaction and unhappiness are rising among the local Bharatiya Janata Party MLAs and the party might soon witness large scale defection.

Addressing the media, Mr. Siddaramaiah said many of the BJP MLAs have openly expressed their disappointment and unhappiness with the BJPs high command and also with Chief Minister B S Yeddyurappa's attitude towards them and they have said that they want to join the Congress at the earliest.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 25,2020

New Delhi, Jan 25: The latest edition of the Oxford Advanced Learner's Dictionary features 26 new Indian English words, including Aadhaar, chawl, dabba, hartal and shaadi.

The 10th edition of the dictionary, which was launched on Friday, has 384 Indian English words and incorporates over 1,000 new words such as chatbot, fake news and microplastic.

The dictionary focuses on language change and its evolution through the years, and has ensured that the language and examples used in the new edition are relevant and up to date with the times, Oxford University Press (OUP) said.

The new edition comes with interactive online support through the Oxford Learner's Dictionaries website and an app. The website includes advanced features such as audio-video tutorials, video walkthroughs, self-study activities and enhanced iWriter and iSpeaker tools.

"This edition has 26 new Indian English words of which 22 figure in the printed dictionary. The other four are in the digital version," said Fathima Dada, Managing Director (Education Division) at OUP.

Some of other new Indian words in the dictionary are auntie (while aunty already figures in the English dictionary, auntie is an Indianism), bus stand, deemed university, FIR, non-veg, redressal, tempo, tube light, veg and videograph.

The four new Indian English words in the online version of the dictionary are current (for electricity), looter, looting and upazila (one of the areas that a district is divided into for administration purposes).

According to OUP, the new edition provides better, more accurate and understandable definitions with examples, usage notes and additional resources to help the learner use the right word in the right context.

"Prevalence and common usage are the main criteria for enlisting new words. We scan the globe for words which are often used by people while speaking English. Then these words go through a rigorous testing process," Dada said.

"As OUP is the custodian of English language globally, these words have to go through its processes," she told PTI.

The Oxford Advanced Learner's Dictionary, she said, has been reinventing itself for nearly eight decades, anticipating the growing learning requirements of learners.

"The 10th edition also is equipped with a strong digital support system, including an app," she said.

It is equipped with several digital tools. With iSpeaker, learners can get help preparing for speaking exams and presentations. With iWriter, learners can plan, write and review their written work. Text Checker allows the teacher to check any text against the Oxford 3000, 5000, and OPAL (Oxford Phrasal Academic Lexicon) written word list.

Resources accessible through online premium access include lesson plans, worksheets, video walkthroughs, and classroom and self-study activities. With the OALD app one can find 86,000 words, 95,000 phrases, 112,000 meanings and 237,000 examples.

The dictionary, which spans 77 years, was originally published in Japan in 1942 and was first brought out by OUP in 1948. The learner's dictionary is based on the original values of its creator, Albert Sydney Hornby, whose aim was to help language learners worldwide understand the meaning of English words.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.