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 28,2020

Thiruvananthapuram, Mar 28: Kerala Chief Minister Pinarayi Vijayan has sought Prime Minister Narendra Modi's intervention to remove the blocking of roads including state highway along the border of Karnataka in view of lock down to contain the spread of COVID-19.

In a letter sent to the Prime Minister on Friday evening, the Chief Minister said certain actions by the Karnataka Police have resulted in the blocking the Thalassery-Coorg State Highway-30. This road connects Kerala with Coorg in Karnataka via Veerajapettah. This route is a lifeline for flow of essential commodities to Kerala."

"If this is blocked, vehicles carrying essential commodities will have to travel a much longer route to reach our state. Given the situation of national lock down, this will add much more hardship to people," it said.

"You will naturally agree with me that no action impeding the movement of essential commodities should be initiated at this moment of crisis," he hoped.

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News Network
March 23,2020

Mangaluru, Mar 23: People in Thukkottu and Ullal area of Mangaluru are in panic after a local woman who recently returned from a foreign country fell ill.

On receiving information the health officials from Ullal PHC visited the house of the woman, who is suffering from fever and cold. They provided her medicines and asked her to remain quarantined at home.

It is said that the woman's mother, who had come to a grocery shop near Thokkottu, informed the shopkeeper that her daughter, who had returned from abroad, was suffering from fever.

The alert shopkeeper, understanding the gravity of the situation, informed ZP Standing Committee on Health and Education President Dhanalakshmi Gatti, who in turn brought the issue to the notice of health officials.

The health officials rushed to her house and diagnosed her. However, the authorities have requested the local people not to be panicked as it is not yet confirmed whether the woman is suffering from COVID-19 caused by the novel coronavirus.

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coastaldigest.com news network
May 13,2020

Mangaluru, May 13: Union Minister and former Karnataka chief minister D V Sadananda Gowda today assured that he will exert pressure on the authorities concerned to operate more repatriate flights to bring back Kannadigas from Saudi Arabia to Karnataka. 

Speaking in a video conference organised by coastaldigest.com with Kannadiga delegates in Saudi Arabia, Mr Gowda said: “Today itself I will contact the external affairs ministry and Director General of Civil Aviation (DGCA) to convince them the need to add operate flights to bring back stranded Kannaidgas from the Kingdom.

After paying heed to the advices, requests and concerns of Kannadiga delegates that participated in the video conference, Mr Gowda said: “Two things need to be done. First thing is number of flights from Saudi Arabia to Karnataka should be increased. Second thing is to ensure that most of these flights land in the Mangaluru Airport as most of the Kannadiga expats in Saudi Arabia are from the coastal region.

“There should be at least two to three flights from Saudi Arabia to Karnataka (Bengaluru Airport or Mangaluru Airport) every week. That is my intention,” he added.

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