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
June 27,2020

Bengaluru, Jun 27: Announcing Karnataka’s ambitious plan to install a 108-ft-tall statue of Nadaprabhu Kempegowda outside the airport, deputy chief minister Ashwath Narayan said the government will bear the project cost — approximately Rs 78 crore.

Work on the project will formally commence with the chief minister laying foundation stone for installation of the statue and development of a 23-acre park where it will come up, on Saturday.

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An artist’s impression of the 108-ft-tall statue, which is proposed to come up in a 23-acre park outside KIA. The chief minister will perform bhoomi puja on Saturday.

KPCC president DK Shivakumar on Thursday suggested the cost be borne by Kempegowda International Airport and not the government. He wrote to the CM welcoming the decision to erect a statue of the chieftain at KIA, but asked why should the govenment spend on it. “When huge concessions have been provided to KIA, why not use its services to construct the statue,” he asked. Narayan, who is chairman of Kempegowda Development Authority, said it is the government’s duty to bear the cost.

The government has released sketches of the statue and a blueprint of the park. Noted sculptor Ram Sutar, who designed the Gandhi statue located between Vidhana Soudha and Vikasa Soudha and the Statue of Unity in Gujarat, will be part of this project as well.

Narayan said the government was not competing with any other state on having a tallest/largest statue while emphasising that Kempegowda ensured the city had tanks, markets and drainage system when it was founded. He added the government won’t invite many guests to Saturday’s ceremony. “Most legislators will be given a virtual link to view the event,” he said.

Comments

Arif, Mangaluru
 - 
Saturday, 27 Jun 2020

When the economic situation is very bad they are wasting people's money on these things now! These statues can be built when the peoples' basic things are first fulfilled. The title of this topic should be "People to bear the burden of Rs.78 crore", there is nothing like governments money, it's all belong to people.

Mohammad Mubarak
 - 
Saturday, 27 Jun 2020

What is the neccessity of spending tax payers money in building Statue when there is great need of these amount in improving the quality of Health sector during COVID-19 Pandemic. Government must be smart enough to prioritise the need of the people.

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News Network
July 25,2020

Bengaluru, Jul 25: The Karnataka government on Saturday announced a waiver of crematorium fees for those who succumb to the COVID-19 infection in Bengaluru and said the city civic body would bear the cost.

It said that from now on, families of the COVID deceased need not pay any fees fixed by the city civic body- Bruhat Bengaluru Mahanagara Palike (BBMP)- across 12 electric crematoriums in the city.

"There were reports in the media about difficulties faced in performing the last rites of those who died due to COVID-19 infections. Aimed at resolving those difficulties, certain decisions have been taken," Revenue Minister R Ashoka said.

He told reporters here that BBMP had fixed Rs 250 as the cremation fee, Rs 100 for the ash collection pot and Rs 900 for the bier (bamboo stretcher on which the body is carried), all of which have been waived for COVID deaths.

"So it will be a waiver of Rs 1,250 per cremation. The BBMP will bear this cost," he added.

Ashoka also announced Rs 500 per body incentive for the personnel who conduct the last rites of COVID victims.

"This is in recognition of their services at a time when family members of the deceased are not ready to touch the body and not ready to take the body in some cases," he said.

Noting that the government has identified 23 acres of land at five places around Bengaluru for burial or cremation of COVID victims, Ashoka locals in all these areas are protesting against it.

Appealing to the people for cooperation during these difficult times, he said the government's intention was to ensure respectful burial or cremation for the deceased.

"Obstructing it is not right, it is not Indian tradition," he said.

Pointing out that it takes almost a day's time for a COVID victim's body to be handed over for burial or cremation, he said "scientifically, according to experts and doctors, the virus will not remain alive for more than three hours.

...Also, bodies are either burnt or buried eight feet below. So there will not be any problem for those living in nearby areas and it will not spread infection. Cooperate with humanity," he said.

"These lands identified are for all religions and communities and once the pandemic subsides, can be used for other deaths as well," he said.

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News Network
March 19,2020

Bengaluru, Mar 19: In the backdrop of coronavirus pandemic, Karnataka State Road Transport Corporation (KSRTC) has reported huge revenue losses in March.

According to official data, the cumulative revenue loss in all services from March 1 till March 18 has amounted to around Rs 8,58,86,462 crores.

This includes cumulative revenue loss of Rs 5,33,82,456 in premium services, and cumulative revenue loss of Rs 3,25,04,006 in non-premium services.

The highest reported revenue loss in all services was reported on March 18, which amounted to Rs 1,90,25,183.

The total number of coronavirus cases in the state have reached 15, according to the Karnataka Health Minister.

A total of 169 positive cases of coronavirus have been reported in India so far, the Union Ministry of Health and Family Welfare said on Thursday.

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