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
February 12,2020

Belagavi, 12: Even though the investigation into the four abandoned country pistols that were recovered by the Karnataka police on the outskirts of Waghawade village in Belagavi taluk last weekend did not make any headway, the police are verifying if the weapons had been used by the assassin of Gauri Lankesh for training.

Four country pistols were found abandoned on the outskirts of Waghawade on Sunday. Locals informed that the police had taken the weapons for inspection.

Prima facie it appeared that the weapons were rusted and had not been used for long. Cases had been registered against unidentified persons and investigations were in progress.

After reports that the weapons could have been used for training by the assassin of Gauri Lankesh in the forests in Khanapur, a few kilometres away from the spot wherein they were found, police have been looking into this angle too.

Sources said the condition of the weapons indicated that they have not been used for decades but to allay doubt all aspects were being looked into.

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News Network
March 31,2020

Bengaluru, Mar 31: The total number of positive cases of coronavirus reached 101 in Karnataka on Tuesday after 13 more positive cases were reported in the state from March 30 5 pm to 2 pm today.

The total number of 101 includes three deaths and 8 discharged/cured cases, Karnataka Health Department stated.

Meanwhile, the total number of coronavirus cases in India has risen to 1,397 after 146 new patients were reported in the last 24-hours, the Ministry of Health and Family Welfare said on Tuesday.

Of this little less than 1,400 cases, there are 1,238 active while 124 cured. The total figure also includes 35 fatalities.

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News Network
June 2,2020

Bengaluru, Jun 2:  With easing of COVID-19 lockdown curbs, the Karnataka excise department has accorded permission for fresh brewing or production of beer and to sell it in microbreweries as takeaways.

"Permission is hereby accorded to microbreweries for fresh brewing/production and sale of beer as takeaway in glass, ceramic or stainless steel container (up to 2 litre) till 30-06-2020, or until further orders, whichever is earlier," the Excise Commissioner in a letter dated June 1 to Deputy Excise Commissioners of all districts said.

The opening and closing hours of the microbreweries shall be from 9 am to 9 pm, it said, adding that all other conditions as laid down will remain unaltered.

Earlier, in a letter dated May 12, the Excise Commissioner had "conditionally" granted permission for microbreweries to sell their beer stock as takeaway on experimental basis for the period from May 14 to June 30 or until exhaustion of existing beer stock, whichever is earlier.

It had called for measures like social distancing, cleanliness, usage of masks and sanitizers, among others, and had said, microbreweries situated in containment zones are not allowed to function.

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