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.
The kidnapped schoolboy was rescued by the police and reunited with his parents. Son of a gift shop owner from Basavanagudi area in Bengaluru, Chirag has reportedly told police that decided to make some quick money to spend on cricket betting and gambling after learning kidnap tricks from the ‘Crime Patrol’. According to police, Chirag reached a private school around 3pm on Tuesday on a Bounce rental bike and zeroed in on a fourth standard student who was walking out of school. He told the boy he was his father's friend and that he required help to search for a relative who had gone missing. The boy believed Chirag and rode pillion on the bike. Chirag then engaged the boy in conversation and learnt about his father's business and got his mobile phone number. He then made a call to the boy's father, demanded Rs 5 lakh and warned him against approaching cops. However, the boy's father alerted Cottonpet police and special teams were formed to crack the case. While Cottonpet inspector Venkatesh TC's squad verified CCTV footage in and around the school, Chamarajpet inspector BG Kumaraswamy's team started tracking the suspect's mobile phone movements. An hour later, the suspect's location was traced to a hotel on the Lavelle Road-St Mark's Road stretch. Police rushed there, rescued the boy and arrested Chirag.
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Really very sad people invest in these companies in lakls , without having knoweldge
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