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

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 6,2020

New Delhi, Jun 6: With the coronavirus pandemic showing no signs of abating, it seems unlikely that Muslims from India will be able to undertake the Hajj pilgrimage this year.

However, the government will take a final decision on the matter only after Saudi Arabia makes its position on hosting the pilgrimage clear.

A circular issued by the Hajj Committee of India on Friday said only a few weeks are left for the preparatory work in India for Hajj 2020, yet the Saudi authorities have not communicated any further development regarding the pilgrimage.

"In view of the several inquiries received and concerns expressed over uncertainty over Hajj 2020, it has been decided by the Hajj Committee of India that, those pilgrims who desire to cancel their Hajj journey this year, their 100 per cent amount paid so far will be refunded without any deductions," the circular issued by Hajj Committee of India CEO Maqsood Ahmed Khan said.

"Coronavirus cases are increasing in Saudi Arabia and two lakh people have to go from here. We had made preparations, but now there is very little time left. We are waiting for an official word from Saudi Arabia," a top source said.

In response to a question, the source said, "This time, it is unlikely that people will be able to undertake Hajj from India."

Uncertainty has been looming large over this year's Hajj in the wake of the coronavirus pandemic and though Saudi Arabia has not made a decision on whether the annual pilgrimage will be held or not, it did ask Muslims to delay their bookings till there is more clarity.

The bilateral annual Hajj 2020 agreement between India and Saudi Arabia was signed last December. In 2020, a total of 2 lakh Indian Muslims were expected to perform Hajj.

Over 95,000 COVID-19 cases and more than 600 deaths have been reported in Saudi Arabia due to the coronavirus pandemic, according to Johns Hopkins University data.

Some countries have decided not to send their people for Hajj this time. The most prominent among these is Indonesia, the country with the largest Muslim population in the world.

The Hajj 2020 is proposed in the period between late July and early August.

The Hajj is one of the five pillars of Islam which every Muslim is required to complete at least once in their lifetime if they are healthy enough and have the means to do so.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
May 20,2020

Bengaluru, May 20: A mysterious "boom" heard in large parts of Bengaluru this afternoon left residents of the city and social media users puzzled. While the source of the sound is being investigated, the Indian Air Force (IAF) indicated that it could be the result of "routine test flights that necessitate going supersonic a times".

The sound was heard from as far as the Bengaluru airport in Devanahalli to the IT hub of Electronic City 54 km away. It was also heard in Kalyan Nagar in east Bengaluru, central Bengaluru's MG Road and areas such as Marathahalli, Whitefield, Sarjapur and Hebbagodi.

IAF said no aircraft of training command was flying in the area. "However, ASTE (Aircraft and Systems Testing Establishment) and HAL (Hindustan Aeronautics Limited) could have been undertaking their routine test flying, which necessitates going supersonic at times. These are done well beyond the city limits in specified sectors. However, considering the atmospheric conditions and reduced noise levels in the city during these times, the aircraft sound may become clearly audible even if it happened way out from the city," said the air force statement.

Many people had speculated that the sound could have been caused by a fighter jet such as a Mirage 2000.

"We have also asked the Air Force Control Room to check if it was a jet or supersonic sound. Bengaluru police are awaiting confirmation from the Air Force," Bengaluru police commissioner Bhaskar Rao said in a statement.

It was not an earthquake, Karnataka's state disaster monitoring centre had tweeted earlier.

"Earthquake activity will not be restricted to one area and will be widespread. We have checked our sensors and there is no earthquake activity recorded today," the Karnataka State Natural Disaster Monitoring Centre said, quoting its director Srinivas Reddy.

"The activity reported in Bengaluru is not due to an earthquake. The seismometers did not capture any ground vibration as generally happens during a mild Tremor. The activity is purely a loud unknown noise," the agency tweeted.

#Bangalore and #BangaloreBoom was among the top trends on Twitter this afternoon.

"We are trying to ascertain the source of the noise," a senior police officer said. "In Whitefield area, we have searched on the ground and so far, there is no damage to any property," he added. There were no calls to the police control room reporting any damage.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
coastaldigest.com news network
August 1,2020

Udupi, Aug 1: A young rider lost his life after a head-on collision between a scooter and a car on K G Road in Udupi last evening.

The deceased has been identified as Praveen Ganiga (24), a resident of Kodavoor in Malpe.

According to police Praveen was riding his scooter on the wrong side of the road. The car was plying from Brahmavar to Udupi.

The people on board car suffered minor injuries in the mishap. A case was registered at Brahmavar police station and investigations are on.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.