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
July 29,2020

Bengaluru, Jul 29: A day after Congress staged a nationwide 'Save Democracy' protest, Janata Dal (Secular) leader HD Kumaraswamy slammed Congress for "dividing" the political parties and "buying MLAs" and questioned their "democratic behaviour" to lure Bahujan Samaj Party (BSP) MLAs who supported them.

Kumaraswamy, in a media statement, said, "Is it a democratic behaviour to lure MLAs of other parties through political shenanigans and later merging with them?"

"Congress is an expert in dividing political parties and purchase of MLAs," said Kumaraswamy adding, "If you are dividing the like-minded party MLAs through deceit, who would support you?"

He alleged that the term "horse trade" in politics came to be used because of Congress.

Congress had tied to divide the Janata Dal (Secular) in 2004. To this, he added, "To avoid the party being hijacked by the Congress, I had to oust the Congress-JD(S) coalition government through a political coup."

Kumaraswamy further accused, "Haven't the Congress who is making a big noise about the purchase of MLAs divided the JD(S) in the past? Is it not a fact that for the sake of one Rajya Sabha seat, the Congress government in Karnataka purchased eight JD(S) MLAs?"

Both -- Congress and BJP -- are "criminals" in purchase matter, he added.

Rajasthan Congress is in turmoil after simmering differences between Sachin Pilot and Chief Minister Ashok Gehlot came out in the open. Pilot was removed as the Deputy Chief Minister and the state unit chief of Congress.

The Congress has accused the BJP of indulging in horse-trading to bring down the Gehlot government. The BJP has rejected the allegations.

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coastaldigest.com news network
January 31,2020

Mangaluru, Jan 31: The Pumpwell flyover, part of the four-laning of Talapady-Kundapura stretch of National Highway 66, was finally inaugurated today.

Work on four-laning NH 66 between Talapady-Kundapur, excluding the Nanthoor-NITK Surathkal stretch, started in September 2010 and Pumpwell (Mahaveera Circle) flyover was a part of the project. Concessionnaire M/s Navayuga Udupi Tollway Pvt., Ltd., failed to execute many flyovers on the stretch within the prescribed time, including Thokkottu and Pumpwell in Mangaluru, Karavali Circle in Udupi, and Shasri Circle in Kundapur.

Thokkottu and Karavali Circle flyovers are complete now while Shastri Circle flyover as well as the four-lane road within Kundapur town are still incomplete. Similarly, a small bridge and portion of the road in Padubidri too is yet to be completed.

District in-charge minister Kota Srinivas Pojjary and MP Nalin Kumar Kateel inaugurated the long-pending Flyover

MLA Vedavayas Kamath, MLA Bharath Shetty were also present on the occasion.

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coastaldigest.com news network
May 21,2020

Bengaluru, May 21: Chief Minister B S Yediyurappa today slammed Law Minister JC Madhuswamy for yelling at a woman farmer in Kolar, an incident that attracted widespread criticism. 

The incident happened on Wednesday when Madhuswamy, who is also the minor irrigation minister, was inspecting the Koramangala-Challaghatta (KC) Valley project, under which Bengaluru’s sewage is treated and pumped into lakes in Kolar. 

During his visit, farmer Nalini Gowda questioned Madhuswamy on the encroachment of the 1,022-acre S Agrahara lake. At one point, Madhuswamy lost his cool and yelled, “Aye! Shut your mouth, rascal,” and asked the police to take her away. Before this, Madhuswamy told her, “Make a request. I’m a very bad man. You can only air your grievance. Don’t command us.” 

A video of this exchange was aired by news channels. 

“What (Madhuswamy) said is not right. I have warned him. None can forgive such an explicit manner of talking with a woman. That, too, behaving like that being a minister doesn’t bode well. I will talk to that woman also and I’ll ensure this doesn’t happen again,” Yediyurappa told reporters.

The incident has come as a shot in the arm to the Opposition Congress, which is already attacking the Yediyurappa administration on the COVID-19 crisis. Condemning Madhuswamy’s behaviour, Leader of the Opposition Siddaramaiah demanded an apology and asked Yediyurappa to sack him from the Cabinet. 

Karnataka Pradesh Congress Committee (KPCC) president D K Shivakumar said it was unbecoming of Madhuswamy to behave like that being a senior minister. “People will ask us questions and express their problems, naturally. What’s important is how we handle ourselves. Be it a woman or anyone, they come to us because we’re into public service. Calling them ‘rascal’ and things is not right. Maybe there was some irritation, but I agree with (Siddaramaiah) that he should be dropped from the Cabinet,” he said.

On his part, Madhuswamy said he felt intimidated. “If I have hurt the feelings of any woman, I will certainly apologise,” he said. “But citizens should realise, we go to their villages to ask about their problems. If they start abusing us publicly, how can we work? My secretary and I heard her for five minutes and then told her that we know our responsibility. We asked her to close the issue. She didn’t stop and I got tempted (sic),” the minister said.

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