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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
June 24,2020

Bengaluru, Jun 24:  Karnataka on Wednesday reported 397 new coronavirus positive cases, taking the total number of positive cases to 10,118.

According to the State Health Department, with 14 more deaths today, the state's toll has reached 164. While, 6,151 people have been discharged so far.

Hundred per cent of Community Health Centres, 50 per cent of Primary Health Centres and Urban Primary Health Centres will be converted as exclusive 'fever clinics' to screen fever cases for influenza-like illness (ILI)/severe acute respiratory infections (SARI), Karnataka Health Department said.

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coastaldigest.com news network
August 7,2020

Mangaluru, Aug 7: Coronavirus surge in the coastal districts of Dakshina Kannada and Udupi today at 411  with with Udupi tallying 245 fresh cases and DK 166. 

A dozen deaths also reported from the twin districts. While DK reported seven fatalities, Udupi recorded five deaths. 

With this, Dakshina Kannada district's Covid-19 tally increased to 6,881 and the total number of deaths increased to 208. 

While the district has 3,369 active cases as on date, the day also saw 188 people getting discharged from hospitals. As many as 3,304 persons were discharged in the district so far. 

Out of seven deaths reported in Dakshina Kannada on Friday, five were from Mangaluru taluk and one each from Puttur and Belthangady taluks.

Meanwhile, out of 245 new coronavirus cases reported in Udupi on Friday, 175 are asymptomatic and 86 have no specific contact history. With this, the total number of cases in Udupi increased to 5,605, which includes 2,292 active cases. 

Udupi also reported five fatalities including a female victim, taking the district’s death toll to 55. Udupi deputy commissioner G Jagadeesha said all the five victims were also suffering from various comorbidities. Udupi district has collected Rs 1,43,300 as penalty from people for violating rules related to social distancing and mask till August 6.

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News Network
February 11,2020

Belagavi, Feb 11: Tension prevailed for sometime here after a few villagers spotted four country-made pistols disposed in the garbage site by the road between Markandey Nagar – Waghavade village on Sunday. Police rushed to the spot and seized the arms which are believed to be of Portugal era.

Sources said some villagers noticed a pistol lying along with heaps of refuse. They informed Bhavakanna Patil, the owner of the agricultural field adjacent to the garbage site. Patil and the villagers checked the garbage and found three more pistols totalling four.

Police said the pistols are about 50 to 60 years old. Going by their condition, all rusted, it is believed that they were left unused for a long time. The Belagavi rural police who have filed a suo motu case related to the incident are getting into the skin of case to trace the owners and those who disposed them in the garbage pit. 

According to preliminary investigation, it is learnt that such pistols were in vogue during Portugal rule in Goa. There are chances that those who inherited the arms may have disposed it for the fear of possessing weapon illegally. The chances of some notorious people who reside in the vicinity near Waghavade and surrounding areas, where burglaries and dacoity are frequently reported, disposing the arms due to the fear of police also cannot be ignored. Police Commissioner Lokesh Kumar was not available for comments.

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